Signition LP Has $869,000 Stock Position in Brookfield Renewable Partners LP (NYSE:BEP)

Signition LP lessened its position in shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) by 18.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,400 shares of the utilities provider’s stock after selling 4,800 shares during the period. Brookfield Renewable Partners accounts for 3.5% of Signition LP’s holdings, making the stock its 3rd biggest holding. Signition LP’s holdings in Brookfield Renewable Partners were worth $869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. raised its stake in Brookfield Renewable Partners by 56.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,097 shares of the utilities provider’s stock worth $38,000 after buying an additional 396 shares during the last quarter. Northern Trust Corp raised its stake in Brookfield Renewable Partners by 1.1% during the second quarter. Northern Trust Corp now owns 49,751 shares of the utilities provider’s stock worth $1,721,000 after buying an additional 559 shares during the last quarter. Usca Ria LLC bought a new position in Brookfield Renewable Partners during the third quarter worth $30,000. Coastal Investment Advisors Inc. acquired a new stake in Brookfield Renewable Partners in the third quarter worth $32,000. Finally, Huntington National Bank grew its holdings in Brookfield Renewable Partners by 128.3% in the third quarter. Huntington National Bank now owns 1,486 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 835 shares during the period. 54.23% of the stock is owned by institutional investors and hedge funds.

NYSE:BEP traded up $0.67 during trading hours on Monday, reaching $43.39. The company had a trading volume of 230,655 shares, compared to its average volume of 174,220. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.60. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 333.77 and a beta of 0.48. The business’s 50-day simple moving average is $41.34 and its two-hundred day simple moving average is $36.33. Brookfield Renewable Partners LP has a twelve month low of $24.51 and a twelve month high of $43.57.

BEP has been the subject of a number of research reports. TD Securities raised their price target on shares of Brookfield Renewable Partners from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada raised their price target on shares of Brookfield Renewable Partners from $37.00 to $39.00 and gave the stock a “sector perform” rating in a report on Monday, September 30th. ValuEngine cut shares of Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays raised their price target on shares of Brookfield Renewable Partners from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Raymond James set a $40.00 price target on shares of Brookfield Renewable Partners and gave the stock a “market perform” rating in a report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.11.

Brookfield Renewable Partners Company 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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