Rockefeller Capital Management L.P. Trims Stake in Brookfield Renewable Partners L.P. $BEP

Rockefeller Capital Management L.P. lowered its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 8.4% in the 4th quarter, Holdings Channel reports. The firm owned 511,152 shares of the utilities provider’s stock after selling 47,075 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Brookfield Renewable Partners were worth $13,786,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Kelleher Financial Advisors bought a new position in shares of Brookfield Renewable Partners during the third quarter valued at approximately $26,000. Russell Investments Group Ltd. purchased a new stake in shares of Brookfield Renewable Partners in the second quarter worth approximately $34,000. Triumph Capital Management bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $55,000. Global Retirement Partners LLC lifted its stake in shares of Brookfield Renewable Partners by 284.5% during the 4th quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 1,633 shares during the last quarter. Finally, UMB Bank n.a. bought a new position in Brookfield Renewable Partners in the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Wall Street Analyst Weigh In

BEP has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Friday, March 27th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. National Bank Financial raised their price target on shares of Brookfield Renewable Partners from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. Morgan Stanley boosted their price objective on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Finally, TD raised their target price on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Brookfield Renewable Partners Trading Down 0.6%

NYSE BEP opened at $35.21 on Thursday. Brookfield Renewable Partners L.P. has a one year low of $24.13 and a one year high of $38.12. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of -113.58 and a beta of 1.09. The company’s 50-day simple moving average is $34.94 and its two-hundred day simple moving average is $31.69.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Equities analysts forecast that Brookfield Renewable Partners L.P. will post -1.53 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.5%. Brookfield Renewable Partners’s dividend payout ratio is currently -506.45%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.