Kayne Anderson Capital Advisors LP Sells 44,986 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Kayne Anderson Capital Advisors LP reduced its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,836 shares of the utilities provider’s stock after selling 44,986 shares during the period. Kayne Anderson Capital Advisors LP’s holdings in Brookfield Renewable Partners were worth $6,605,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Stifel Financial Corp grew its stake in Brookfield Renewable Partners by 1.3% in the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after purchasing an additional 403 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Brookfield Renewable Partners by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock valued at $59,000 after buying an additional 537 shares during the period. HighTower Advisors LLC lifted its stake in Brookfield Renewable Partners by 1.6% in the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after acquiring an additional 749 shares during the period. Apollon Wealth Management LLC grew its holdings in Brookfield Renewable Partners by 7.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after acquiring an additional 945 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $28,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $22.85 on Wednesday. The firm’s 50 day simple moving average is $22.13 and its 200-day simple moving average is $24.38. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of -25.67 and a beta of 1.02. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share 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 last year, the firm posted $0.01 earnings per share. Analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 6.53%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is presently -167.42%.

Wall Street Analysts Forecast Growth

BEP has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. National Bankshares lowered their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Scotiabank lifted their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, StockNews.com downgraded 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, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

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.