Franklin Resources Inc. Has $984,000 Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Franklin Resources Inc. lowered its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 54.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,676 shares of the utilities provider’s stock after selling 44,886 shares during the quarter. Franklin Resources Inc.’s holdings in Brookfield Renewable Partners were worth $984,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in Brookfield Renewable Partners by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after purchasing an additional 330,648 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Brookfield Renewable Partners by 0.6% during the second quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after buying an additional 37,836 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Brookfield Renewable Partners by 0.4% during the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after buying an additional 26,189 shares in the last quarter. CCLA Investment Management raised its position in Brookfield Renewable Partners by 1.9% during the second quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock valued at $63,952,000 after buying an additional 47,734 shares during the period. Finally, TD Asset Management Inc lifted its stake in Brookfield Renewable Partners by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after acquiring an additional 67,777 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. CIBC upped their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. National Bankshares decreased their target price on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $31.00 in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Trading Down 0.3 %

Brookfield Renewable Partners stock opened at $23.06 on Friday. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $29.56. The company’s fifty day moving average price is $25.21 and its two-hundred day moving average price is $25.36. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of -28.12 and a beta of 0.93. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. During the same period in the previous year, the business posted ($0.14) earnings per share. On average, analysts forecast that Brookfield Renewable Partners L.P. will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

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 paid a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 6.16%. Brookfield Renewable Partners’s payout ratio is presently -173.17%.

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.