Brookfield Renewable Partners L.P. $BEP Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia grew its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 11.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,148,128 shares of the utilities provider’s stock after buying an additional 114,127 shares during the quarter. Bank of Nova Scotia’s holdings in Brookfield Renewable Partners were worth $37,444,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. BROOKFIELD Corp ON raised its position in shares of Brookfield Renewable Partners by 9.4% in the fourth quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after buying an additional 6,967,670 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Brookfield Renewable Partners by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock valued at $277,930,000 after purchasing an additional 177,599 shares in the last quarter. Bank of Montreal Can grew its position in shares of Brookfield Renewable Partners by 20.3% in the fourth quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock valued at $226,859,000 after purchasing an additional 1,415,989 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Brookfield Renewable Partners by 128.0% in the fourth quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider’s stock valued at $131,265,000 after purchasing an additional 2,732,542 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Brookfield Renewable Partners by 41.9% in the fourth quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock valued at $108,663,000 after purchasing an additional 1,189,130 shares during the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BEP shares. TD upped their target price on Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a report on Monday, May 4th. Barclays set a $30.00 price target on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Wednesday. National Bank Financial upped their price objective on shares of Brookfield Renewable Partners from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Wall Street Zen cut shares of Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Finally, TD Securities reaffirmed a “buy” rating and set a $39.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

Brookfield Renewable Partners Stock Up 0.2%

Shares of BEP opened at $33.12 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $9.94 billion, a PE ratio of -106.84 and a beta of 1.10. The company’s 50-day simple moving average is $34.58 and its 200-day simple moving average is $32.53. Brookfield Renewable Partners L.P. has a 1 year low of $24.13 and a 1 year high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. Analysts forecast that Brookfield Renewable Partners L.P. will post -1.55 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were given a dividend of $0.392 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.7%. Brookfield Renewable Partners’s dividend payout ratio is currently -503.23%.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.