Global X Management Co LLC lowered its holdings in Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 309,026 shares of the utilities provider’s stock after selling 10,701 shares during the period. Global X Management Co LLC owned approximately 0.17% of Brookfield Renewable Partners worth $9,286,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bridgeworth LLC purchased a new stake in shares of Brookfield Renewable Partners during the second quarter worth $108,000. Flagship Harbor Advisors LLC acquired a new position in Brookfield Renewable Partners during the second quarter worth $127,000. Citadel Advisors LLC acquired a new position in Brookfield Renewable Partners during the first quarter worth $203,000. K.J. Harrison & Partners Inc acquired a new position in Brookfield Renewable Partners during the second quarter worth $289,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Brookfield Renewable Partners during the second quarter worth $295,000. Institutional investors own 55.24% of the company’s stock.
Shares of NYSE:BEP traded up $0.27 during trading on Friday, reaching $29.28. The stock had a trading volume of 160,513 shares, compared to its average volume of 115,339. Brookfield Renewable Partners LP has a 52 week low of $28.87 and a 52 week high of $35.34. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $5.45 billion, a P/E ratio of -162.67, a price-to-earnings-growth ratio of 1.53 and a beta of 0.22.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, August 3rd. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.18). Brookfield Renewable Partners had a net margin of 1.00% and a return on equity of 0.48%. The firm had revenue of $735.00 million during the quarter, compared to the consensus estimate of $785.00 million. As a group, analysts forecast that Brookfield Renewable Partners LP will post 2.2 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Deutsche Bank started coverage on Brookfield Renewable Partners in a research report on Friday, September 28th. They issued a “sell” rating and a $28.00 price target on the stock. Finally, Scotiabank reissued a “hold” rating and set a $34.00 target price on shares of Brookfield Renewable Partners in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Brookfield Renewable Partners has an average rating of “Hold” and a consensus price target of $33.75.
Brookfield Renewable Partners Company Profile
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities in the North America, Colombia, Brazil, Europe, and internationally. The company operates through Hydroelectric; Wind; and Solar, Storage, and others segments. It operates 840 generation facilities using hydro, solar, wind, biomass, and other renewable technologies.
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