Scotia Capital Inc. Has $80.88 Million Stake in Brookfield Renewable Partners LP (NYSE:BEP)
Scotia Capital Inc. lowered its position in shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) by 5.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,344,963 shares of the utilities provider’s stock after selling 132,253 shares during the period. Brookfield Renewable Partners comprises about 1.0% of Scotia Capital Inc.’s portfolio, making the stock its 27th biggest position. Scotia Capital Inc.’s holdings in Brookfield Renewable Partners were worth $80,876,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of BEP. BerganKDV Wealth Management LLC lifted its stake in shares of Brookfield Renewable Partners by 100.0% in the first quarter. BerganKDV Wealth Management LLC now owns 800 shares of the utilities provider’s stock valued at $26,000 after buying an additional 400 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in Brookfield Renewable Partners by 106.9% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 1,167 shares of the utilities provider’s stock valued at $37,000 after buying an additional 603 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of 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 worth $38,000 after buying an additional 396 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Brookfield Renewable Partners by 55.0% during the second quarter. Advisor Group Inc. now owns 4,168 shares of the utilities provider’s stock worth $145,000 after buying an additional 1,479 shares during the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Brookfield Renewable Partners during the first quarter worth $157,000. Institutional investors and hedge funds own 53.96% of the company’s stock.
BEP has been the topic of several recent research reports. Zacks Investment Research downgraded Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Royal Bank of Canada upped their target price on Brookfield Renewable Partners from $33.00 to $37.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Credit Suisse Group cut Brookfield Renewable Partners from an “outperform” rating to a “neutral” rating in a report on Thursday, July 25th. Raymond James increased their target price on Brookfield Renewable Partners from $31.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $38.57.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.21). The company 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 business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 11.13%. The ex-dividend date of this dividend is Thursday, August 29th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.52. Brookfield Renewable Partners’s payout ratio is 1,584.62%.
Brookfield Renewable Partners Company Profile
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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