Scotia Capital Inc. Acquires 323,619 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Scotia Capital Inc. boosted its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 13.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,715,043 shares of the utilities provider's stock after purchasing an additional 323,619 shares during the period. Scotia Capital Inc. owned about 0.95% of Brookfield Renewable Partners worth $61,433,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CCLA Investment Management boosted its stake in shares of Brookfield Renewable Partners by 1.9% in the 4th quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider's stock worth $59,838,000 after buying an additional 49,553 shares during the last quarter. CIBC Asset Management Inc boosted its position in Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider's stock worth $192,605,000 after purchasing an additional 1,628,524 shares during the last quarter. Abel Hall LLC bought a new position in Brookfield Renewable Partners in the 4th quarter valued at $456,000. Raymond James Financial Inc. bought a new position in Brookfield Renewable Partners in the 4th quarter valued at $2,623,000. Finally, NINE MASTS CAPITAL Ltd increased its position in shares of Brookfield Renewable Partners by 240.0% during the 4th quarter. NINE MASTS CAPITAL Ltd now owns 137,573 shares of the utilities provider's stock valued at $3,135,000 after purchasing an additional 97,105 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Brookfield Renewable Partners Stock Performance

Shares of NYSE:BEP traded down $0.12 during midday trading on Tuesday, reaching $21.46. 134,348 shares of the company traded hands, compared to its average volume of 584,904. The firm's fifty day moving average price is $22.42 and its two-hundred day moving average price is $23.76. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of -24.11 and a beta of 0.99. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a 12 month low of $19.29 and a 12 month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $0.01 EPS. On average, equities analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 6.95%. This is an increase from Brookfield Renewable Partners's previous quarterly dividend of $0.36. The ex-dividend date was Friday, February 28th. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -167.42%.

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.