SCS Capital Management LLC Buys New Holdings 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 bought a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 719,281 shares of the utilities provider's stock, valued at approximately $15,939,000. SCS Capital Management LLC owned approximately 0.25% of Brookfield Renewable Partners as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BEP. Golden State Wealth Management LLC lifted its holdings in shares of Brookfield Renewable Partners by 103.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock worth $25,000 after acquiring an additional 579 shares during the last quarter. Bank of Nova Scotia Trust Co. lifted its holdings in shares of Brookfield Renewable Partners by 0.5% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 149,221 shares of the utilities provider's stock worth $3,307,000 after acquiring an additional 726 shares during the last quarter. Barclays PLC lifted its holdings in shares of Brookfield Renewable Partners by 13.5% in 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 last quarter. Captrust Financial Advisors lifted its holdings in shares of Brookfield Renewable Partners by 4.2% in 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 last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Brookfield Renewable Partners by 5.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 25,373 shares of the utilities provider's stock worth $562,000 after acquiring an additional 1,221 shares during the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BEP shares. Scotiabank lifted their price objective on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 18th. National Bank Financial upgraded shares of Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday, June 8th. National Bankshares lifted their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. CIBC lifted their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a report on Monday, July 21st. Finally, Raymond James Financial lowered shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $30.11.

Brookfield Renewable Partners Stock Up 1.0%

Brookfield Renewable Partners stock traded up $0.24 during midday trading on Friday, reaching $25.30. The company's stock had a trading volume of 400,567 shares, compared to its average volume of 408,442. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market capitalization of $7.18 billion, a P/E ratio of -26.63 and a beta of 1.04. The stock's 50-day simple moving average is $25.77 and its 200-day simple moving average is $24.22. Brookfield Renewable Partners L.P. has a 52-week low of $19.29 and a 52-week high of $29.56.

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

Brookfield Renewable Partners Dividend Announcement

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

Brookfield Renewable Partners Profile

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.