Ovata Capital Management Ltd Invests $4.51 Million in Brookfield Renewable Partners L.P. $BEP

Ovata Capital Management Ltd purchased a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 174,926 shares of the utilities provider’s stock, valued at approximately $4,511,000. Brookfield Renewable Partners makes up approximately 0.9% of Ovata Capital Management Ltd’s portfolio, making the stock its 19th biggest position.

Several other large investors have also recently modified their holdings of BEP. Principal Financial Group Inc. boosted its stake in Brookfield Renewable Partners by 16.2% in the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock worth $261,189,000 after purchasing an additional 1,414,837 shares in the last quarter. Liontrust Investment Partners LLP bought a new stake in Brookfield Renewable Partners during the 2nd quarter valued at about $24,180,000. Picton Mahoney Asset Management bought a new stake in Brookfield Renewable Partners during the 2nd quarter valued at about $13,899,000. Bank of Montreal Can raised its holdings in Brookfield Renewable Partners by 6.5% in the third quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider’s stock worth $179,837,000 after buying an additional 428,446 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of Brookfield Renewable Partners by 50.2% in the third quarter. UBS Group AG now owns 1,196,648 shares of the utilities provider’s stock worth $30,862,000 after buying an additional 400,052 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BEP shares. Morgan Stanley reiterated an “overweight” rating and set a $38.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, November 24th. Canadian Imperial Bank of Commerce started coverage on Brookfield Renewable Partners in a research report on Wednesday, March 4th. They issued an “outperformer” rating and a $37.00 price objective on the stock. National Bank Financial increased their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Wall Street Zen raised Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Mizuho set a $31.00 price target on Brookfield Renewable Partners and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.93.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $31.20 on Wednesday. The company has a 50 day moving average price of $29.99 and a 200-day moving average price of $28.48. Brookfield Renewable Partners L.P. has a 52 week low of $19.29 and a 52 week high of $32.78. The firm has a market capitalization of $9.53 billion, a PE ratio of -120.00 and a beta of 1.13. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.88. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. As a group, equities research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a dividend of $0.392 per share. The ex-dividend date is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a yield of 5.0%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -600.00%.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.