Commerce Bank Purchases New Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Key Points

• Commerce Bank has acquired 231,375 shares of Brookfield Renewable Partners L.P. (NYSE:BEP), valued at approximately $5.1 million, representing about 0.08% ownership in the company.
• Brookfield Renewable Partners recently reported a loss per share of ($0.22) for the last quarter, falling short of analyst expectations, although it exceeded revenue estimates with $1.69 billion in revenue.
• The company announced a quarterly dividend of $0.373 per share, leading to an annual yield of 5.8%, despite a negative dividend payout ratio of -147.52%.

Commerce Bank bought a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 231,375 shares of the utilities provider's stock, valued at approximately $5,127,000. Commerce Bank owned 0.08% of Brookfield Renewable Partners at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Bank of Nova Scotia Trust Co. raised its position in shares of Brookfield Renewable Partners by 31.3% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 148,495 shares of the utilities provider's stock valued at $3,384,000 after acquiring an additional 35,429 shares during the period. SOA Wealth Advisors LLC. bought a new stake in Brookfield Renewable Partners during the 1st quarter worth approximately $583,000. Cambridge Investment Research Advisors Inc. increased its stake in Brookfield Renewable Partners by 16.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider's stock worth $574,000 after purchasing an additional 3,722 shares in the last quarter. Jane Street Group LLC increased its stake in Brookfield Renewable Partners by 69.7% during the 4th quarter. Jane Street Group LLC now owns 45,271 shares of the utilities provider's stock worth $1,032,000 after purchasing an additional 18,593 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in Brookfield Renewable Partners by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 681,400 shares of the utilities provider's stock worth $15,398,000 after purchasing an additional 98,966 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BEP has been the subject of a number of research reports. CIBC increased their target price on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a research note on Monday, July 21st. Scotiabank increased their target price on Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 18th. Wells Fargo & Company decreased their price target on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. National Bankshares raised their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.11.

Brookfield Renewable Partners Stock Performance

Shares of BEP traded up $0.27 during midday trading on Thursday, reaching $26.00. 16,199 shares of the stock were exchanged, compared to its average volume of 639,278. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $29.56. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 0.97. The company has a market cap of $7.38 billion, a P/E ratio of -27.43 and a beta of 1.05. The stock's 50 day simple moving average is $25.90 and its 200 day simple moving average is $23.61.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. On average, sell-side analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable Partners's payout ratio is -156.84%.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.