First Trust Advisors LP Purchases 5,910 Shares of Brookfield Renewable Partners LP (NYSE:BEP)

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First Trust Advisors LP grew its position in shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,218 shares of the utilities provider’s stock after buying an additional 5,910 shares during the period. First Trust Advisors LP’s holdings in Brookfield Renewable Partners were worth $4,288,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Bank of Montreal Can increased its position in Brookfield Renewable Partners by 1.5% during the 1st quarter. Bank of Montreal Can now owns 4,422,596 shares of the utilities provider’s stock worth $141,302,000 after buying an additional 66,603 shares during the period. Toronto Dominion Bank increased its position 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 buying an additional 269,877 shares during the period. Scotia Capital Inc. increased its position in Brookfield Renewable Partners by 2.6% during the 4th quarter. Scotia Capital Inc. now owns 2,511,896 shares of the utilities provider’s stock worth $64,791,000 after buying an additional 64,642 shares during the period. Montrusco Bolton Investments Inc. increased its position 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 buying an additional 118,954 shares during the period. Finally, Ronna Sue Cohen increased its position in Brookfield Renewable Partners by 3,095.0% during the 1st quarter. Ronna Sue Cohen now owns 640,598 shares of the utilities provider’s stock worth $641,000 after buying an additional 620,548 shares during the period. Hedge funds and other institutional investors own 53.41% of the company’s stock.

Shares of NYSE BEP opened at $33.60 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.57. Brookfield Renewable Partners LP has a 52 week low of $24.51 and a 52 week high of $34.00. The firm has a market capitalization of $6.01 billion, a P/E ratio of 140.13, a P/E/G ratio of 10.22 and a beta of 0.48.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). Brookfield Renewable Partners had a return on equity of 1.47% and a net margin of 7.20%. The company had revenue of $825.00 million during the quarter, compared to the consensus estimate of $839.76 million. As a group, equities analysts anticipate that Brookfield Renewable Partners LP will post 0.47 EPS for the current year.

BEP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. ValuEngine upgraded Brookfield Renewable Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. TheStreet upgraded Brookfield Renewable Partners from a “d+” rating to a “c” rating in a research report on Monday, March 4th. Finally, Wells Fargo & Co restated a “buy” rating and issued a $36.00 price target on shares of Brookfield Renewable Partners in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $34.64.

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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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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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