Pennsylvania Trust Co acquired a new position in Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 64,247 shares of the utilities provider’s stock, valued at approximately $10,511,000.
Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in Brookfield Renewable Partners by 215.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 438,060 shares of the utilities provider’s stock worth $13,247,000 after acquiring an additional 299,335 shares during the period. Toronto Dominion Bank raised its stake in Brookfield Renewable Partners by 10.8% during the 4th quarter. Toronto Dominion Bank now owns 2,764,898 shares of the utilities provider’s stock worth $71,683,000 after acquiring an additional 269,877 shares during the period. FMR LLC bought a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $6,034,000. Montrusco Bolton Investments Inc. raised its stake in Brookfield Renewable Partners by 8.8% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 1,469,500 shares of the utilities provider’s stock worth $38,034,000 after acquiring an additional 118,954 shares during the period. Finally, Intact Investment Management Inc. bought a new stake in Brookfield Renewable Partners during the 4th quarter worth approximately $2,964,000. Hedge funds and other institutional investors own 54.50% of the company’s stock.
Shares of BEP opened at $31.58 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.62. Brookfield Renewable Partners LP has a 1 year low of $24.51 and a 1 year high of $32.15. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 242.92, a P/E/G ratio of 14.99 and a beta of 0.57.
A number of research firms have commented on BEP. Zacks Investment Research upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Wells Fargo & Co restated a “buy” rating and set a $36.00 target price on shares of Brookfield Renewable Partners in a research note on Thursday, April 4th. ValuEngine upgraded shares of Brookfield Renewable Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. TheStreet upgraded shares of Brookfield Renewable Partners from a “d+” rating to a “c” rating in a research note on Monday, March 4th. Finally, Raymond James restated a “market perform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Tuesday, February 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $32.75.
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Brookfield Renewable Partners Profile
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.
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