Waterfront Wealth Inc. Sells 750 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Waterfront Wealth Inc. trimmed its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,462 shares of the utilities provider’s stock after selling 750 shares during the quarter. Waterfront Wealth Inc.’s holdings in Brookfield Renewable Partners were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Scarborough Advisors LLC purchased a new stake in Brookfield Renewable Partners during the fourth quarter valued at about $30,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at $31,000. Evermay Wealth Management LLC bought a new position in shares of Brookfield Renewable Partners during the 1st quarter valued at $49,000. Clear Point Advisors Inc. purchased a new position in Brookfield Renewable Partners in the 1st quarter worth $49,000. Finally, Northwest Financial Advisors purchased a new stake in Brookfield Renewable Partners during the fourth quarter valued at about $65,000. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Price Performance

BEP opened at $24.49 on Monday. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $28.81. The company has a market cap of $6.98 billion, a price-to-earnings ratio of -53.24 and a beta of 0.92. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $24.81 and a two-hundred day simple moving average of $24.44.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted ($0.10) EPS. Brookfield Renewable Partners’s revenue for the quarter was up 23.0% on a year-over-year basis. Research analysts predict that Brookfield Renewable Partners L.P. will post -0.87 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.355 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.80%. Brookfield Renewable Partners’s dividend payout ratio is currently -308.69%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BEP shares. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. TD Securities increased their price target on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, Scotiabank increased their target price on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and a consensus price target of $31.82.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.