Brookfield Renewable Partners LP (BEP) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) by 0.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,636,372 shares of the utilities provider’s stock after selling 14,517 shares during the quarter. Bank of Montreal Can owned about 2.57% of Brookfield Renewable Partners worth $140,204,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Montrusco Bolton Investments Inc. raised its holdings in Brookfield Renewable Partners by 2.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,350,546 shares of the utilities provider’s stock worth $40,895,000 after purchasing an additional 31,050 shares during the last quarter. NEXT Financial Group Inc bought a new stake in Brookfield Renewable Partners during the 3rd quarter worth about $166,000. M Holdings Securities Inc. bought a new stake in Brookfield Renewable Partners during the 2nd quarter worth about $2,344,000. Jane Street Group LLC raised its holdings in Brookfield Renewable Partners by 92.0% during the 2nd quarter. Jane Street Group LLC now owns 21,303 shares of the utilities provider’s stock worth $640,000 after purchasing an additional 10,210 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in Brookfield Renewable Partners by 366.1% during the 2nd quarter. Lake Street Advisors Group LLC now owns 500,669 shares of the utilities provider’s stock worth $15,045,000 after purchasing an additional 393,248 shares during the last quarter. 55.24% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:BEP opened at $29.28 on Friday. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -162.67, a PEG ratio of 1.53 and a beta of 0.22. Brookfield Renewable Partners LP has a 1-year low of $28.87 and a 1-year high of $35.34. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.78 and a quick ratio of 0.78.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, August 3rd. The utilities provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.18). The company had revenue of $735.00 million during the quarter, compared to the consensus estimate of $785.00 million. Brookfield Renewable Partners had a net margin of 1.00% and a return on equity of 0.48%. As a group, sell-side analysts expect that Brookfield Renewable Partners LP will post 2.2 EPS for the current year.

Several brokerages have weighed in on BEP. Zacks Investment Research cut Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Scotiabank reissued a “hold” rating and set a $34.00 price objective on shares of Brookfield Renewable Partners in a report on Friday, August 3rd. Finally, Deutsche Bank began coverage on Brookfield Renewable Partners in a report on Friday, September 28th. They set a “sell” rating and a $28.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $33.75.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities in the North America, Colombia, Brazil, Europe, and internationally. The company operates through Hydroelectric; Wind; and Solar, Storage, and others segments. It operates 840 generation facilities using hydro, solar, wind, biomass, and other renewable technologies.

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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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