Mirabella Financial Services LLP Has $5.84 Million Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Mirabella Financial Services LLP decreased its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 45.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,175 shares of the utilities provider’s stock after selling 210,561 shares during the period. Mirabella Financial Services LLP’s holdings in Brookfield Renewable Partners were worth $5,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CCLA Investment Management boosted its stake in Brookfield Renewable Partners by 1.9% during the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock worth $59,838,000 after buying an additional 49,553 shares in the last quarter. CIBC Asset Management Inc increased its stake in Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after acquiring an additional 1,628,524 shares during the period. Abel Hall LLC acquired a new position in Brookfield Renewable Partners in the fourth quarter worth about $456,000. Raymond James Financial Inc. bought a new position in Brookfield Renewable Partners during the fourth quarter worth about $2,623,000. Finally, NINE MASTS CAPITAL Ltd grew 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 during the period. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Brookfield Renewable Partners stock opened at $21.54 on Friday. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of -24.20 and a beta of 0.99. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The business’s 50-day simple moving average is $22.35 and its 200 day simple moving average is $23.60.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping 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 quarter in the previous year, the business posted $0.01 earnings per share. As a group, research 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date was Friday, February 28th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s payout ratio is currently -167.42%.

Analysts Set New Price Targets

Several research firms have issued reports on BEP. Scotiabank increased their price objective on 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 target price on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Barclays assumed coverage on shares of Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They issued an “equal weight” rating and a $27.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.18.

About Brookfield Renewable Partners

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.