Clearstead Trust LLC Sells 2,571 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Clearstead Trust LLC trimmed its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 20.0% in the second quarter, Holdings Channel.com reports. The fund owned 10,295 shares of the utilities provider’s stock after selling 2,571 shares during the quarter. Clearstead Trust LLC’s holdings in Brookfield Renewable Partners were worth $255,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new position in shares of Brookfield Renewable Partners during the fourth quarter worth about $30,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Brookfield Renewable Partners during the first quarter worth about $31,000. Evermay Wealth Management LLC bought a new position in shares of Brookfield Renewable Partners during the first quarter worth about $49,000. Clear Point Advisors Inc. bought a new position in shares of Brookfield Renewable Partners during the first quarter worth about $49,000. Finally, Principal Securities Inc. bought a new position in shares of Brookfield Renewable Partners during the fourth quarter worth about $77,000. 63.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BEP. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday, August 5th. TD Securities lifted their target price on Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Scotiabank lifted their target price on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.82.

Brookfield Renewable Partners Trading Up 1.0 %

Shares of Brookfield Renewable Partners stock opened at $26.43 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $28.81. The stock has a 50 day moving average price of $24.74 and a two-hundred day moving average price of $24.59. The stock has a market capitalization of $7.53 billion, a PE ratio of -57.46 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business posted ($0.10) EPS. The company’s revenue was up 23.0% on a year-over-year basis. As a group, equities analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.355 per share. The ex-dividend date is Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.37%. Brookfield Renewable Partners’s payout ratio is -308.70%.

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.