Brookfield Renewable Partners Limited operates as the general partner of Brookfield Renewable Partners L.P. The company was formerly known as Brookfield Renewable Energy Partners L.P. and changed its name to Brookfield Renewable Partners L.P.in May 2016.
Any deal would be subject to approval from a majority of non-Brookfield-affiliated GGP shareholders.
A number of equities analysts have recently issued reports on BPY shares. BidaskClub raised Brookfield Infrastructure Partners from a "hold" rating to a "buy" rating in a research note on Friday, August 11th.
On October 2 Canaccord Genuity made no change to the company rating of "Buy" targeting a price of $28.00.
Scotiabank raised the price target of the stock on November 6 changing the price objective from $25.25 to $25.50 with a "Outperform" recommendation. Credit Suisse Group assumed coverage on shares of Brookfield Infrastructure Partners in a research note on Monday, September 18th. The stock now has an average rating of "Buy" and an average price target of $48.88. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.92.
Shares of Brookfield Infrastructure Partners (NYSE BIP) opened at $43.47 on Tuesday. The stock has a market cap of $15,980.00, a price-to-earnings ratio of 161.00, a PEG ratio of 1.26 and a beta of 1.06.
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COPYRIGHT VIOLATION WARNING: This article was originally published by BBNS and is the sole property of of BBNS. If you are accessing this news story on another website, it was stolen and reposted in violation of USA & worldwide trademark and copyright legislation. The correct version of this article can be read at https://www.truebluetribune.com/2017/11/13/cibc-asset-management-inc-purchases-2072246-shares-of-brookfield-property-partners-l-p-bpy.html. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.98%. Brookfield Property Partners L.P.'s dividend payout ratio is now 513.04%.
GGP Inc. said Monday that it received an unsolicited proposal from Brookfield Property Partners LP on Saturday. Short shares grew from 101,143 to 117,675 over that period. Public Sector Pension Investment Board now controls 1,239,819 shares worth $29,289,000.
"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. 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.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company.