Fiera Capital Corp Sells 31,147 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Fiera Capital Corp cut its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 74.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,869 shares of the utilities provider’s stock after selling 31,147 shares during the quarter. Fiera Capital Corp’s holdings in Brookfield Renewable Partners were worth $307,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Gold Investment Management Ltd. lifted its stake in shares of Brookfield Renewable Partners by 1.9% in the third quarter. Gold Investment Management Ltd. now owns 81,141 shares of the utilities provider’s stock worth $2,289,000 after buying an additional 1,505 shares in the last quarter. Principal Financial Group Inc. lifted its position in Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after acquiring an additional 330,648 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $348,000. Intact Investment Management Inc. bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth $42,331,000. Finally, Tyche Wealth Partners LLC purchased a new position in shares of Brookfield Renewable Partners in the third quarter worth $277,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. CIBC lifted their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. National Bankshares increased their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.78.

Brookfield Renewable Partners Price Performance

NYSE BEP opened at $26.42 on Monday. The business’s fifty day moving average is $26.52 and its 200 day moving average is $25.81. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $7.53 billion, a PE ratio of -32.22 and a beta of 0.95.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is -173.17%.

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.