Brookfield Renewable Partners L.P. (NYSE:BEP) Position Lessened by Adalta Capital Management LLC

Adalta Capital Management LLC lowered its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,351 shares of the utilities provider’s stock after selling 549 shares during the quarter. Adalta Capital Management LLC’s holdings in Brookfield Renewable Partners were worth $532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Promus Capital LLC bought a new stake in shares of Brookfield Renewable Partners in the 4th quarter valued at approximately $37,000. Jones Financial Companies Lllp lifted its stake in Brookfield Renewable Partners by 26.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 537 shares during the last quarter. Allworth Financial LP bought a new stake in Brookfield Renewable Partners in the fourth quarter worth approximately $68,000. Steward Partners Investment Advisory LLC increased its stake in shares of Brookfield Renewable Partners by 81.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 1,391 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Brookfield Renewable Partners by 13.5% during the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider’s stock worth $183,000 after purchasing an additional 951 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $24.27 on Wednesday. The company has a market cap of $6.89 billion, a price-to-earnings ratio of -27.27 and a beta of 0.99. The business has a 50 day moving average price of $22.52 and a 200 day moving average price of $23.02. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). The company had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. Research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.373 per share. The ex-dividend date is Friday, May 30th. This represents a $1.49 annualized dividend and a dividend yield of 6.15%. Brookfield Renewable Partners’s payout ratio is -147.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. CIBC reduced their price target on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating for the company in a research report on Monday, May 5th. National Bankshares lowered their price objective on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Scotiabank raised their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.67.

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.