Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Bought by Scotia Capital Inc.

Scotia Capital Inc. grew its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,715,043 shares of the utilities provider’s stock after purchasing an additional 323,619 shares during the quarter. Scotia Capital Inc. owned approximately 0.95% of Brookfield Renewable Partners worth $61,433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp boosted its position in shares of Brookfield Renewable Partners by 1.3% in the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after acquiring an additional 403 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Brookfield Renewable Partners by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 537 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of Brookfield Renewable Partners by 3.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 24,152 shares of the utilities provider’s stock valued at $550,000 after purchasing an additional 724 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Brookfield Renewable Partners by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 26,217 shares of the utilities provider’s stock valued at $597,000 after buying an additional 725 shares during the period. Finally, HighTower Advisors LLC increased its holdings in shares of Brookfield Renewable Partners by 1.6% during the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after buying an additional 749 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $21.82 on Thursday. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.21 billion, a P/E ratio of -24.52 and a beta of 0.99. The company’s fifty day moving average is $22.44 and its two-hundred day moving average is $23.92.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter in the previous year, the company earned $0.01 earnings per share. Equities analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 6.84%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -167.42%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BEP. Barclays began coverage on shares of Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They issued an “equal weight” rating and a $27.00 target price for the company. CIBC lowered their target price on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Scotiabank lifted their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, National Bankshares cut their target price on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average price target of $30.18.

Brookfield Renewable Partners 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.