Lake Street Advisors Group LLC Has $34.82 Million Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Lake Street Advisors Group LLC lessened its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,405,826 shares of the utilities provider’s stock after selling 5,115 shares during the quarter. Brookfield Renewable Partners comprises 1.7% of Lake Street Advisors Group LLC’s investment portfolio, making the stock its 16th biggest holding. Lake Street Advisors Group LLC owned about 0.49% of Brookfield Renewable Partners worth $34,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its position in shares of Brookfield Renewable Partners by 8.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock worth $248,000 after purchasing an additional 750 shares during the last quarter. Clearbridge Investments LLC lifted its position in Brookfield Renewable Partners by 0.9% during the 1st quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock valued at $2,017,000 after acquiring an additional 768 shares during the period. Tidal Investments LLC boosted its stake in Brookfield Renewable Partners by 2.5% during the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock worth $866,000 after acquiring an additional 894 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Brookfield Renewable Partners by 17.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after purchasing an additional 900 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Brookfield Renewable Partners by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 82,262 shares of the utilities provider’s stock valued at $2,162,000 after purchasing an additional 1,126 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Down 2.4 %

NYSE:BEP opened at $24.30 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.52 and a quick ratio of 0.52. The company’s fifty day moving average price is $24.70 and its 200-day moving average price is $24.46. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $28.81. The firm has a market capitalization of $6.93 billion, a P/E ratio of -52.83 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. As a group, equities research analysts anticipate that Brookfield Renewable Partners L.P. will post -0.87 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.355 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.84%. Brookfield Renewable Partners’s dividend payout ratio is presently -308.70%.

Analyst Ratings Changes

A number of research firms have weighed in on BEP. National Bankshares raised their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. increased their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Scotiabank lifted their target price on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, June 12th. TD Securities lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.82.

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.