Bank of Montreal Can Acquires 48,802 Shares of Brookfield Renewable Partners L.P. $BEP

by · The Markets Daily

Bank of Montreal Can raised its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP – Free Report) (TSE:BEP) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,550,512 shares of the utilities provider’s stock after purchasing an additional 48,802 shares during the quarter. Bank of Montreal Can owned 2.31% of Brookfield Renewable Partners worth $167,123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Royal Bank of Canada increased its stake in Brookfield Renewable Partners by 2.3% during the 1st quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider’s stock valued at $373,164,000 after purchasing an additional 374,087 shares in the last quarter. TD Asset Management Inc grew its holdings in Brookfield Renewable Partners by 30.1% during the first quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider’s stock worth $65,866,000 after buying an additional 689,196 shares in the last quarter. CCLA Investment Management raised its position in Brookfield Renewable Partners by 1.3% in the 1st quarter. CCLA Investment Management now owns 2,661,405 shares of the utilities provider’s stock valued at $58,923,000 after buying an additional 33,433 shares during the last quarter. National Bank of Canada FI raised its position in Brookfield Renewable Partners by 17.1% in the 1st quarter. National Bank of Canada FI now owns 2,466,957 shares of the utilities provider’s stock valued at $54,395,000 after buying an additional 360,693 shares during the last quarter. Finally, Invesco Ltd. raised its position in Brookfield Renewable Partners by 13.6% in the 1st quarter. Invesco Ltd. now owns 1,706,128 shares of the utilities provider’s stock valued at $37,808,000 after buying an additional 204,176 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 3.2%

Shares of NYSE:BEP opened at $31.52 on Tuesday. The company has a market capitalization of $8.95 billion, a PE ratio of -33.18 and a beta of 1.13. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. The business has a fifty day moving average price of $26.88 and a two-hundred day moving average price of $25.60. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $32.72.

Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last announced its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.64 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. Analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on BEP. Scotiabank increased their price target on Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 18th. Raymond James Financial reissued an “outperform” rating and issued a $35.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 29th. TD Securities increased their price target on Brookfield Renewable Partners from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday. UBS Group reissued a “buy” rating and issued a $38.00 price target (up from $29.00) on shares of Brookfield Renewable Partners in a research report on Thursday. Finally, Desjardins increased their price target on Brookfield Renewable Partners from $42.00 to $46.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.54.

Get Our Latest Stock Report on Brookfield Renewable Partners

About Brookfield Renewable Partners

(Free Report)

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.

Further Reading

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