Scotia Capital Inc. trimmed its stake in Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) by 5.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,344,963 shares of the utilities provider’s stock after selling 132,253 shares during the period. Brookfield Renewable Partners accounts for about 1.0% of Scotia Capital Inc.’s investment portfolio, making the stock its 27th largest position. Scotia Capital Inc. owned approximately 1.31% of Brookfield Renewable Partners worth $80,876,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in Brookfield Renewable Partners by 1.1% during the second quarter. Northern Trust Corp now owns 49,751 shares of the utilities provider’s stock valued at $1,721,000 after acquiring an additional 559 shares during the period. Veritable L.P. acquired a new stake in Brookfield Renewable Partners during the second quarter worth about $214,000. Fiera Capital Corp increased its stake in Brookfield Renewable Partners by 3.5% during the second quarter. Fiera Capital Corp now owns 73,259 shares of the utilities provider’s stock valued at $2,535,000 after acquiring an additional 2,460 shares during the period. Fosun International Ltd increased its stake in Brookfield Renewable Partners by 20.0% during the second quarter. Fosun International Ltd now owns 120,000 shares of the utilities provider’s stock valued at $7,114,000 after acquiring an additional 20,000 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Brookfield Renewable Partners by 56.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,097 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 396 shares during the period. Hedge funds and other institutional investors own 53.96% of the company’s stock.
A number of analysts have commented on the company. Credit Suisse Group downgraded Brookfield Renewable Partners from an “outperform” rating to a “neutral” rating in a research report on Thursday, July 25th. Barclays set a $53.00 price target on Brookfield Renewable Partners and gave the company a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada upped their price target on Brookfield Renewable Partners from $33.00 to $37.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Zacks Investment Research cut Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Raymond James increased their price objective on Brookfield Renewable Partners from $31.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $38.57.
Shares of BEP stock traded down $0.12 during trading hours on Wednesday, hitting $37.03. 11,036 shares of the company’s stock were exchanged, compared to its average volume of 158,431. The stock’s 50-day moving average is $36.57 and its 200-day moving average is $33.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 284.77 and a beta of 0.46. Brookfield Renewable Partners LP has a 52 week low of $24.51 and a 52 week high of $37.94.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.21). The business had revenue of $787.00 million during the quarter. Brookfield Renewable Partners had a net margin of 9.16% and a return on equity of 1.80%.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be issued a dividend of $1.03 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, August 29th. This represents a $4.12 annualized dividend and a yield of 11.13%. Brookfield Renewable Partners’s dividend payout ratio is currently 1,584.62%.
About Brookfield Renewable Partners
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.
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