SCS Capital Management LLC Makes New $15.94 Million Investment in Brookfield Renewable Partners L.P. $BEP

Key Points

• SCS Capital Management LLC has acquired a new stake in Brookfield Renewable Partners L.P., purchasing 719,281 shares valued at approximately $15.9 million.
• Brookfield Renewable Partners reported a loss of $0.22 per share for the last quarter, missing expectations, but had revenues of $1.69 billion, exceeding analyst estimates.
• A quarterly dividend of $0.373 per share has been announced, representing an annualized yield of 6.0%, with the ex-dividend date set for August 29th.

SCS Capital Management LLC acquired a new position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 719,281 shares of the utilities provider's stock, valued at approximately $15,939,000. SCS Capital Management LLC owned about 0.25% of Brookfield Renewable Partners at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Brookfield Renewable Partners by 13.5% during the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider's stock worth $183,000 after acquiring an additional 951 shares during the period. Jane Street Group LLC boosted its position in Brookfield Renewable Partners by 69.7% during the 4th quarter. Jane Street Group LLC now owns 45,271 shares of the utilities provider's stock worth $1,032,000 after acquiring an additional 18,593 shares during the period. Ameriprise Financial Inc. boosted its position in Brookfield Renewable Partners by 20.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,616,911 shares of the utilities provider's stock worth $36,849,000 after acquiring an additional 275,612 shares during the period. Bank of America Corp DE boosted its position in Brookfield Renewable Partners by 12.1% during the 4th quarter. Bank of America Corp DE now owns 698,025 shares of the utilities provider's stock worth $15,908,000 after acquiring an additional 75,083 shares during the period. Finally, Captrust Financial Advisors boosted its position in Brookfield Renewable Partners by 4.2% during the 4th quarter. Captrust Financial Advisors now owns 25,033 shares of the utilities provider's stock worth $570,000 after acquiring an additional 1,012 shares during the period. 63.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Raymond James Financial lowered Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. reduced their price target on Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. CIBC boosted their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a research report on Monday, July 21st. National Bank Financial upgraded Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday, June 8th. Finally, Scotiabank upped their price objective on Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $30.11.

Brookfield Renewable Partners Trading Up 1.0%

Shares of NYSE BEP traded up $0.24 during mid-day trading on Friday, hitting $25.30. 400,567 shares of the company traded hands, compared to its average volume of 614,516. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $29.56. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of -26.63 and a beta of 1.04. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average of $25.77 and a two-hundred day moving average of $24.21.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. On average, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable Partners's payout ratio is presently -156.84%.

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.