Bank of Nova Scotia Trust Co. trimmed its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 12.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,078 shares of the utilities provider’s stock after selling 33,372 shares during the period. Bank of Nova Scotia Trust Co. owned approximately 0.08% of Brookfield Renewable Partners L.P. worth $7,253,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BEP. FMR LLC raised its position in shares of Brookfield Renewable Partners L.P. by 2.9% in the 1st quarter. FMR LLC now owns 1,185,800 shares of the utilities provider’s stock valued at $35,132,000 after acquiring an additional 33,000 shares during the period. Global X Management Co. LLC raised its position in shares of Brookfield Renewable Partners L.P. by 1,008.4% in the 1st quarter. Global X Management Co. LLC now owns 287,740 shares of the utilities provider’s stock valued at $8,555,000 after acquiring an additional 261,780 shares during the period. Mackenzie Financial Corp raised its position in shares of Brookfield Renewable Partners L.P. by 1.0% in the 1st quarter. Mackenzie Financial Corp now owns 568,787 shares of the utilities provider’s stock valued at $16,910,000 after acquiring an additional 5,492 shares during the period. Renaissance Technologies LLC raised its position in shares of Brookfield Renewable Partners L.P. by 353.8% in the 1st quarter. Renaissance Technologies LLC now owns 255,953 shares of the utilities provider’s stock valued at $7,598,000 after acquiring an additional 199,554 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Brookfield Renewable Partners L.P. in the 1st quarter valued at approximately $454,000. Institutional investors and hedge funds own 58.34% of the company’s stock.

A number of analysts recently weighed in on the stock. Raymond James Financial, Inc. cut their price target on shares of Brookfield Renewable Partners L.P. to $42.00 and set a “market perform” rating on the stock in a research report on Thursday, August 17th. National Bank Financial downgraded shares of Brookfield Renewable Partners L.P. from an “outperform” rating to a “sector perform” rating and set a $35.00 price target on the stock. in a research report on Tuesday, August 8th. Brookfield Renewable Partners LP cut their price target on shares of Brookfield Renewable Partners L.P. to $42.00 and set a “market perform” rating on the stock in a research report on Thursday, August 17th. TD Securities increased their price target on shares of Brookfield Renewable Partners L.P. from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Finally, Barclays PLC set a $36.00 price target on shares of Brookfield Renewable Partners L.P. and gave the company a “hold” rating in a research report on Sunday, August 6th. Ten equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Brookfield Renewable Partners L.P. currently has a consensus rating of “Hold” and an average target price of $36.56.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) traded up 0.81% during mid-day trading on Friday, reaching $33.52. 128,454 shares of the company’s stock traded hands. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 11173.33 and a beta of 0.24. Brookfield Renewable Partners L.P. has a 12 month low of $26.61 and a 12 month high of $36.00. The company has a 50 day moving average of $34.45 and a 200 day moving average of $32.08.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, August 4th. The utilities provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Brookfield Renewable Partners L.P. had a return on equity of 0.76% and a net margin of 3.66%. The company had revenue of $683.00 million for the quarter, compared to analyst estimates of $721.75 million. Analysts expect that Brookfield Renewable Partners L.P. will post $0.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.4675 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date is Tuesday, August 29th. Brookfield Renewable Partners L.P.’s payout ratio is -1,869.81%.

TRADEMARK VIOLATION WARNING: “Bank of Nova Scotia Trust Co. Has $7.25 Million Position in Brookfield Renewable Partners L.P. (BEP)” was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/bank-of-nova-scotia-trust-co-has-7-25-million-position-in-brookfield-renewable-partners-l-p-bep/1599035.html.

About Brookfield Renewable Partners L.P.

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

Want to see what other hedge funds are holding BEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP).

Institutional Ownership by Quarter for Brookfield Renewable Partners L.P. (NYSE:BEP)

Receive News & Ratings for Brookfield Renewable Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Renewable Partners L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.