Bridgeworth LLC Invests $108,000 in Brookfield Renewable Partners LP (NYSE:BEP) Stock

Bridgeworth LLC bought a new stake in shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,600 shares of the utilities provider’s stock, valued at approximately $108,000.

Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in Brookfield Renewable Partners by 2.4% during the 2nd quarter. Bank of Montreal Can now owns 4,650,889 shares of the utilities provider’s stock valued at $139,760,000 after buying an additional 107,612 shares during the period. Principal Financial Group Inc. boosted its position in Brookfield Renewable Partners by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,551,629 shares of the utilities provider’s stock valued at $79,432,000 after buying an additional 57,048 shares during the period. Toronto Dominion Bank boosted its position in Brookfield Renewable Partners by 36.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,412,040 shares of the utilities provider’s stock valued at $72,388,000 after buying an additional 647,475 shares during the period. Montrusco Bolton Investments Inc. boosted its position in Brookfield Renewable Partners by 9.5% during the 2nd quarter. Montrusco Bolton Investments Inc. now owns 1,319,496 shares of the utilities provider’s stock valued at $39,581,000 after buying an additional 114,195 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its position in Brookfield Renewable Partners by 7.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 299,578 shares of the utilities provider’s stock valued at $9,322,000 after buying an additional 21,600 shares during the period. 55.24% of the stock is currently owned by institutional investors.

Shares of NYSE:BEP traded up $0.03 on Friday, hitting $29.91. The company had a trading volume of 138,828 shares, compared to its average volume of 114,193. Brookfield Renewable Partners LP has a 1 year low of $29.57 and a 1 year high of $35.34. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.77. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -166.17, a P/E/G ratio of 1.53 and a beta of 0.22.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, August 3rd. The utilities provider reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.18). Brookfield Renewable Partners had a return on equity of 0.48% and a net margin of 1.00%. The company had revenue of $735.00 million during the quarter, compared to analysts’ expectations of $785.00 million. Equities analysts forecast that Brookfield Renewable Partners LP will post 2.2 EPS for the current fiscal year.

BEP has been the subject of several analyst reports. Zacks Investment Research cut shares of Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. BMO Capital Markets increased their price target on shares of Brookfield Renewable Partners from $33.00 to $33.50 and gave the company a “market perform” rating in a research report on Wednesday, June 13th. Scotiabank reissued a “hold” rating and set a $34.00 price target on shares of Brookfield Renewable Partners in a research report on Friday, August 3rd. Finally, Deutsche Bank initiated coverage on shares of Brookfield Renewable Partners in a research report on Friday, September 28th. They set a “sell” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $33.75.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities in the North America, Colombia, Brazil, Europe, and internationally. The company operates through Hydroelectric; Wind; and Solar, Storage, and others segments. It operates 840 generation facilities using hydro, solar, wind, biomass, and other renewable technologies.

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

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