Baldwin Investment Management LLC Trims Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Baldwin Investment Management LLC cut its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,032 shares of the utilities provider’s stock after selling 576 shares during the period. Baldwin Investment Management LLC’s holdings in Brookfield Renewable Partners were worth $846,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BEP. GAMMA Investing LLC increased its stake in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 442 shares in the last quarter. Waverton Investment Management Ltd bought a new position in Brookfield Renewable Partners in the 3rd quarter worth $178,000. Creative Planning purchased a new stake in Brookfield Renewable Partners in the 3rd quarter worth $206,000. Cadence Bank bought a new stake in Brookfield Renewable Partners during the third quarter valued at about $212,000. Finally, Aspiriant LLC purchased a new position in shares of Brookfield Renewable Partners in the third quarter valued at about $241,000. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Brookfield Renewable Partners stock opened at $25.72 on Wednesday. Brookfield Renewable Partners L.P. has a twelve month low of $19.92 and a twelve month high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The company’s 50-day moving average price is $26.57 and its 200-day moving average price is $25.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Analysts predict that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 5.52%. Brookfield Renewable Partners’s payout ratio is -173.17%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BEP. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.00 to $31.00 in a report on Monday, September 30th. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. Finally, CIBC lifted their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners has an average rating of “Moderate Buy” and a consensus price target of $31.78.

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.