Published: Mon, November 13, 2017
Business | By Max Garcia

Brookfield Renewable (NYSE:BEP) Short Interest Up by 16.35% - Currently Trading Down

Brookfield Renewable (NYSE:BEP) Short Interest Up by 16.35% - Currently Trading Down

Brookfield Property Partners a diversified global real estate company. It improved, as 5 investors sold GGP Inc shares while 0 reduced holdings. Canaccord Genuity maintained the stock with "Buy" rating in Monday, October 2 report. The stock of GGP Inc (NYSE:GGP) earned "Outperform" rating by Credit Suisse on Thursday, August 20. $29.19's average target is 23.58% above currents $23.62 stock price.

The company is trading up since yesterday's close of 23.32. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock.

On October 20 BMO Capital Markets held the stock rating at "Hold" projecting a price of $35.00.

Media headlines about Brookfield Property Partners (NYSE:BPY) have been trending somewhat positive recently, Accern reports. Brookfield Renewable Energy Partners had 24 analyst reports since August 19, 2015 according to SRatingsIntel.

A potential deal is expected to create a company with an ownership interest in nearly $100 billion real estate assets globally and annual net operating income of about $5 billion, Brookfield said.

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Brookfield Infrastructure Partners declared that its board has initiated a stock repurchase program on Tuesday, November 7th that permits the company to buyback 13,820,000 shares. Karpas Strategies Llc bought 25,225 shares as the company's stock declined 4.93% while stock markets rallied. Stockholders of record on Thursday, November 30th will be issued a $0.468 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.50%. As part of the restructuring agreement, Brookfield agreed to not increase its ownership beyond 45 per cent. Brookfield has since moved to increase its stake within those boundaries, and in November 2013 Brookfield Property Partners invested another $1.4 billion U.S. to increase its stake.

A number of equities analysts recently commented on BPY shares. Earlier in the third quarter of this year, Brookfield had purchased 68 million shares of GGP, which were estimated at United States dollars 462 million, thereby helping the former raise its ownership stake in GGP Inc. from 29% to 34%. That's about 21 percent more than Chicago-based GGP's closing price on November 6, the day before Bloomberg News reported Brookfield had held discussions about taking the company private. As of the end of the quarter Cannell Peter B & Co Inc had disposed of 7,062 shares trimming its position 4.1%. Scotia Capital Inc. now owns 2,527,595 shares of the utilities provider's stock worth $80,466,000 after buying an additional 412,554 shares during the last quarter. Shamrock Asset Management LLC now controls 28,326 shares with a value of $1,222,000. Greystone Investment Management LLC now owns 41,190 shares of the utilities provider's stock valued at $1,314,000 after buying an additional 3,000 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Brookfield Renewable Partners 6.3% during the 2nd quarter. Wells Fargo & Company MN now owns 8,972 shares of the utilities provider's stock valued at $287,000 after buying an additional 6,350 shares during the last quarter.

Brookfield previously owned 29 per cent after investing in GGP in 2010 as part of a deal to rescue the company from bankruptcy protection. Brookfield Renewable Partners L.P. was founded in 1999 and is based in Toronto, Canada. The Company's divisions include Hydroelectric, Wind, Other and Corporate.

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