Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 23.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,472,170 shares of the utilities provider’s stock after purchasing an additional 1,628,524 shares during the period. CIBC Asset Management Inc’s holdings in Brookfield Renewable Partners were worth $192,605,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Brookfield Renewable Partners during the 3rd quarter worth $28,000. Allworth Financial LP purchased a new position in shares of Brookfield Renewable Partners during the fourth quarter worth about $68,000. Waverton Investment Management Ltd acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth about $178,000. Barclays PLC lifted its holdings in shares of Brookfield Renewable Partners by 40.6% in the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 2,036 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $206,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Down 0.1 %

NYSE:BEP opened at $22.37 on Monday. Brookfield Renewable Partners L.P. has a 1 year low of $19.92 and a 1 year high of $29.56. The stock has a fifty day moving average price of $22.34 and a two-hundred day moving average price of $24.56. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same quarter in the prior year, the business earned $0.01 EPS. As a group, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -0.99 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio is -159.55%.

Analyst Ratings Changes

A number of brokerages have weighed in on BEP. StockNews.com cut Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. National Bankshares lowered their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. CIBC reduced their target price on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Scotiabank increased their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $30.50.

Brookfield Renewable Partners Company 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.