Bank of Nova Scotia Trust Co. Acquires 35,429 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Bank of Nova Scotia Trust Co. raised its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 31.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,495 shares of the utilities provider's stock after acquiring an additional 35,429 shares during the period. Bank of Nova Scotia Trust Co. owned approximately 0.05% of Brookfield Renewable Partners worth $3,384,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BEP. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners in the third quarter worth $28,000. Promus Capital LLC bought a new stake in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp raised its stake in shares of Brookfield Renewable Partners by 26.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock valued at $59,000 after purchasing an additional 537 shares in the last quarter. Allworth Financial LP bought a new position in Brookfield Renewable Partners during the 4th quarter worth approximately $68,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Brookfield Renewable Partners by 81.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider's stock valued at $71,000 after buying an additional 1,391 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Up 1.2 %

Brookfield Renewable Partners stock traded up $0.26 during mid-day trading on Thursday, reaching $22.36. The company's stock had a trading volume of 123,002 shares, compared to its average volume of 576,347. The business's 50 day simple moving average is $22.32 and its 200 day simple moving average is $23.52. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. 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 market capitalization of $6.35 billion, a price-to-earnings ratio of -25.13 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period in the prior year, the company earned $0.01 EPS. As a group, research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a dividend of $0.373 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.67%. This is a boost from Brookfield Renewable Partners's previous quarterly dividend of $0.36. Brookfield Renewable Partners's dividend payout ratio is currently -167.42%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Barclays assumed coverage on Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They set an "equal weight" rating and a $27.00 target price for the company. Scotiabank lifted their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Finally, National Bankshares reduced their price target on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.