Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Connor Clark & Lunn Investment Management Ltd. raised its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 28.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,480,927 shares of the utilities provider’s stock after buying an additional 324,653 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brookfield Renewable Partners were worth $33,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CCLA Investment Management raised its stake in shares of Brookfield Renewable Partners by 1.9% in the 4th quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after purchasing an additional 49,553 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Brookfield Renewable Partners by 23.8% in the 4th quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after purchasing an additional 1,628,524 shares in the last quarter. Abel Hall LLC acquired a new stake in shares of Brookfield Renewable Partners in the 4th quarter valued at about $456,000. MAI Capital Management raised its stake in shares of Brookfield Renewable Partners by 294.2% in the 3rd quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock valued at $2,443,000 after purchasing an additional 64,695 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd raised its stake in shares of Brookfield Renewable Partners by 240.0% in the 4th quarter. NINE MASTS CAPITAL Ltd now owns 137,573 shares of the utilities provider’s stock valued at $3,135,000 after purchasing an additional 97,105 shares in the last quarter. 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 $23.21 on Thursday. The firm’s 50 day moving average is $22.14 and its two-hundred day moving average is $24.37. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56. The firm has a market capitalization of $6.62 billion, a P/E ratio of -26.08 and a beta of 1.02. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period last year, the company earned $0.01 EPS. Analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.373 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 6.43%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -167.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BEP shares. JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Scotiabank increased 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. National Bankshares dropped their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. Finally, CIBC dropped their price objective on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.50.

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.