Intact Investment Management Inc. Has $29.50 Million Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Intact Investment Management Inc. reduced its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 13.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,295,307 shares of the utilities provider’s stock after selling 205,650 shares during the period. Brookfield Renewable Partners accounts for 1.0% of Intact Investment Management Inc.’s holdings, making the stock its 24th largest holding. Intact Investment Management Inc.’s holdings in Brookfield Renewable Partners were worth $29,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BEP. Aviso Financial Inc. grew its stake in shares of Brookfield Renewable Partners by 21.3% in the fourth quarter. Aviso Financial Inc. now owns 8,841 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 1,553 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Brookfield Renewable Partners by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 26,217 shares of the utilities provider’s stock valued at $597,000 after acquiring an additional 725 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Brookfield Renewable Partners by 28.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,927 shares of the utilities provider’s stock valued at $33,687,000 after acquiring an additional 324,653 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Brookfield Renewable Partners by 3.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 24,152 shares of the utilities provider’s stock valued at $550,000 after acquiring an additional 724 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Brookfield Renewable Partners by 12.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 246,631 shares of the utilities provider’s stock valued at $5,621,000 after acquiring an additional 26,950 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on BEP. Wells Fargo & Company decreased their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Scotiabank upped their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. 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 Monday, February 3rd. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Finally, National Bankshares cut their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average price target of $30.50.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $22.80 on Friday. The business has a 50 day moving average of $22.13 and a 200-day moving average of $24.36. Brookfield Renewable Partners L.P. has a 1 year low of $19.92 and a 1 year high of $29.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The company has a market capitalization of $6.50 billion, a P/E ratio of -25.62 and a beta of 1.02.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $0.01 earnings per share. On average, equities research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio is currently -167.42%.

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.