SCS Capital Management LLC Lowers Holdings in Brookfield Renewable Partners L.P. $BEP

SCS Capital Management LLC trimmed its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 38.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 444,471 shares of the utilities provider’s stock after selling 274,810 shares during the period. SCS Capital Management LLC owned about 0.16% of Brookfield Renewable Partners worth $11,338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BEP. S&CO Inc. purchased a new stake in Brookfield Renewable Partners during the second quarter worth $255,000. Royal Bank of Canada raised its position in shares of Brookfield Renewable Partners by 2.3% in the first quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider’s stock worth $373,164,000 after acquiring an additional 374,087 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Brookfield Renewable Partners by 18.1% during the 1st quarter. Raymond James Financial Inc. now owns 135,895 shares of the utilities provider’s stock worth $3,011,000 after acquiring an additional 20,799 shares in the last quarter. Groupe la Francaise boosted its stake in shares of Brookfield Renewable Partners by 20.9% during the 1st quarter. Groupe la Francaise now owns 162,557 shares of the utilities provider’s stock worth $3,967,000 after acquiring an additional 28,058 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Brookfield Renewable Partners during the 1st quarter valued at about $414,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Performance

Shares of NYSE:BEP opened at $28.37 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.58 and a quick ratio of 0.58. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $32.72. The firm has a market capitalization of $8.68 billion, a PE ratio of -32.99 and a beta of 1.11. The business’s 50 day moving average price is $28.62 and its 200-day moving average price is $26.55.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.22. Brookfield Renewable Partners had a return on equity of 0.66% and a net margin of 3.52%.The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. As a group, equities research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Renewable Partners’s dividend payout ratio is currently -173.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. UBS Group reaffirmed a “buy” rating and set a $38.00 target price (up from $29.00) on shares of Brookfield Renewable Partners in a research note on Thursday, October 30th. Desjardins upgraded Brookfield Renewable Partners to a “hold” rating in a research report on Wednesday, November 26th. Raymond James Financial reissued an “outperform” rating and issued a $35.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 29th. Finally, TD Securities upped their price objective on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.79.

About Brookfield Renewable Partners

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.