Ovata Capital Management Ltd Makes New Investment in Brookfield Renewable Partners L.P. $BEP

Ovata Capital Management Ltd bought a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 174,926 shares of the utilities provider’s stock, valued at approximately $4,511,000. Brookfield Renewable Partners accounts for about 0.9% of Ovata Capital Management Ltd’s holdings, making the stock its 19th largest holding. Ovata Capital Management Ltd owned 0.06% of Brookfield Renewable Partners as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in Brookfield Renewable Partners by 16.2% in the third quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock valued at $261,189,000 after acquiring an additional 1,414,837 shares in the last quarter. Liontrust Investment Partners LLP bought a new position in Brookfield Renewable Partners in the 2nd quarter worth $24,180,000. Picton Mahoney Asset Management purchased a new stake in shares of Brookfield Renewable Partners in the 2nd quarter worth about $13,899,000. Bank of Montreal Can boosted its stake in shares of Brookfield Renewable Partners by 6.5% during the 3rd quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider’s stock valued at $179,837,000 after purchasing an additional 428,446 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Brookfield Renewable Partners by 50.2% during the 3rd quarter. UBS Group AG now owns 1,196,648 shares of the utilities provider’s stock valued at $30,862,000 after purchasing an additional 400,052 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Canadian Imperial Bank of Commerce started coverage on Brookfield Renewable Partners in a research report on Wednesday, March 4th. They set an “outperformer” rating and a $37.00 price objective on the stock. Mizuho set a $31.00 target price on Brookfield Renewable Partners and gave the stock a “neutral” rating in a report on Monday, February 2nd. National Bank Financial raised their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley restated an “overweight” rating and set a $38.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, November 24th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.93.

Brookfield Renewable Partners Trading Up 1.8%

Shares of NYSE BEP opened at $31.20 on Wednesday. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $32.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a 50-day moving average of $29.99 and a 200 day moving average of $28.48. The stock has a market cap of $9.53 billion, a P/E ratio of -120.00 and a beta of 1.13.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.88. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. As a group, sell-side analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Friday, February 27th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -600.00%.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.