Business

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

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

"Brookfield's access to large-scale capital and deep operating expertise across multiple real estate sectors combined with GGP's high-quality retail asset base will allow us to maximize the value of these irreplaceable assets", said Brian Kingston, Brookfield Property Partners CEO in a release announcing the bid. Arthur M. Cohen & Associates LLC now owns 475,801 shares of the utilities provider's stock worth $11,557,000 after acquiring an additional 464,244 shares during the period. Brookfield Infrastructure Partners has a one year low of $30.76 and a one year high of $44.91.

Scotiabank raised the price target on November 6 changing the forecast from $25.25 to $25.50 and issued a "Outperform" recommendation. Public Sector Pension Investment Board owns 1,239,819 shares worth $29,289,000. The stock saw a rise in short interest from October 13, 2017 to October 31, 2017 of 13.48%. New England Private Wealth Advisors LLC claims 21,500 shares worth $927,000. CIBC Asset Management Inc now owns 6,076,461 shares of the financial services provider's stock valued at $141,097,000 after buying an additional 2,072,246 shares in the last quarter.

Several other hedge funds have also made changes to their positions in the company. Bollard Group LLC grew its stake in shares of Brookfield Infrastructure Partners by 1.0% during the second quarter. The firm has a market cap of $5,810.00, a PE ratio of 98.67 and a beta of 0.89. TD Securities increased their price target on shares of Brookfield Infrastructure Partners to $57.00 and gave the stock a "buy" rating in a report on Monday, September 18th. Brookfield Infrastructure Partners makes up about 2.9% of Lucas Capital Management's holdings, making the stock its 9th biggest position.

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Brookfield noted that each common share of GGP will be acquired for consideration of $23.00. Winslow Evans & Crocker Inc. now owns 10,997 shares of the utilities provider's stock worth $450,000 after buying an additional 1,423 shares during the period. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.435 per share.

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. The ex-dividend date is Wednesday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.00%. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Brookfield Property Partners has offered $14 billion to buy the remaining shares of mall owner GGP that it doesn't already own. The Company owns, operates and develops a portfolio of office, retail, multifamily, industrial, hospitality, triple net lease, self-storage and student housing assets.