1832 Asset Management L.P. Has $61.87 Million Stock Position in Brookfield Renewable Partners L.P. $BEP

1832 Asset Management L.P. reduced its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 54.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,425,381 shares of the utilities provider’s stock after selling 2,883,544 shares during the quarter. 1832 Asset Management L.P.’s holdings in Brookfield Renewable Partners were worth $61,871,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BEP. NINE MASTS CAPITAL Ltd bought a new stake in shares of Brookfield Renewable Partners in the second quarter valued at about $5,552,000. Bank of Nova Scotia Trust Co. boosted its stake in shares of Brookfield Renewable Partners by 19.2% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 177,937 shares of the utilities provider’s stock worth $4,539,000 after acquiring an additional 28,716 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Brookfield Renewable Partners in the second quarter valued at $34,000. Aviso Financial Inc. raised its holdings in Brookfield Renewable Partners by 52.6% in the 2nd quarter. Aviso Financial Inc. now owns 7,605 shares of the utilities provider’s stock valued at $194,000 after acquiring an additional 2,621 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in Brookfield Renewable Partners during the 2nd quarter worth approximately $13,899,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Down 0.3%

BEP stock opened at $27.84 on Thursday. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of -32.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a fifty day moving average of $28.56 and a 200-day moving average of $26.54. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.29 and a fifty-two week high of $32.72.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.22. Brookfield Renewable Partners had a return on equity of 0.66% and a net margin of 3.52%.The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.61 billion. As a group, equities research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be given a dividend of $0.373 per share. The ex-dividend date is Friday, November 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.4%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.26%.

Wall Street Analysts Forecast Growth

BEP has been the topic of several analyst reports. Mizuho set a $33.00 target price on Brookfield Renewable Partners in a report on Friday, November 7th. JPMorgan Chase & Co. increased their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Scotiabank reaffirmed an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Brookfield Renewable Partners in a research report on Thursday, November 6th. Royal Bank Of Canada raised their price target on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $35.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.79.

Brookfield Renewable Partners Company 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.