Global X Management Co. LLC increased its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 10.0% during the second quarter, Holdings Channel reports. The fund owned 316,513 shares of the utilities provider’s stock after buying an additional 28,773 shares during the period. Global X Management Co. LLC’s holdings in Brookfield Renewable Partners L.P. were worth $10,109,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can boosted its position in shares of Brookfield Renewable Partners L.P. by 11.4% in the first quarter. Bank of Montreal Can now owns 4,496,989 shares of the utilities provider’s stock valued at $133,696,000 after buying an additional 459,698 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Brookfield Renewable Partners L.P. by 5.6% in the first quarter. Principal Financial Group Inc. now owns 2,249,697 shares of the utilities provider’s stock valued at $66,883,000 after buying an additional 119,318 shares during the last quarter. Hexavest Inc. boosted its position in shares of Brookfield Renewable Partners L.P. by 1.1% in the second quarter. Hexavest Inc. now owns 338,455 shares of the utilities provider’s stock valued at $10,776,000 after buying an additional 3,715 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Brookfield Renewable Partners L.P. by 1.0% in the first quarter. Mackenzie Financial Corp now owns 568,787 shares of the utilities provider’s stock valued at $16,910,000 after buying an additional 5,492 shares during the last quarter. Finally, Greystone Investment Management LLC boosted its position in shares of Brookfield Renewable Partners L.P. by 7.9% in the second quarter. Greystone Investment Management LLC now owns 41,190 shares of the utilities provider’s stock valued at $1,314,000 after buying an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 54.24% of the company’s stock.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) opened at 33.69 on Thursday. The stock’s market cap is $9.99 billion. Brookfield Renewable Partners L.P. has a 52-week low of $26.61 and a 52-week high of $35.00. The company has a 50-day moving average of $33.07 and a 200 day moving average of $31.06.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The firm had revenue of $683 million during the quarter, compared to the consensus estimate of $721.75 million. Brookfield Renewable Partners L.P. had a net margin of 2.82% and a return on equity of 0.76%. Equities research analysts forecast that Brookfield Renewable Partners L.P. will post $0.17 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.4675 per share. This represents a $1.87 annualized dividend and a dividend yield of 5.55%. The ex-dividend date is Tuesday, August 29th.

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Several research analysts have recently issued reports on BEP shares. BMO Capital Markets cut shares of Brookfield Renewable Partners L.P. from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a report on Wednesday, May 24th. They noted that the move was a valuation call. GMP Securities reiterated a “buy” rating and issued a $32.00 price target on shares of Brookfield Renewable Partners L.P. in a research report on Friday, May 5th. ValuEngine upgraded shares of Brookfield Renewable Partners L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, June 8th. BidaskClub upgraded shares of Brookfield Renewable Partners L.P. from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Finally, TD Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Brookfield Renewable Partners L.P. in a research report on Thursday, May 4th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.75.

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)

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