231,375 Shares in Brookfield Renewable Partners L.P. (NYSE:BEP) Acquired by Commerce Bank

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 acquired a new position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 231,375 shares of the utilities provider's stock, valued at approximately $5,127,000. Commerce Bank owned about 0.08% of Brookfield Renewable Partners as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in shares of Brookfield Renewable Partners by 1.3% in the 4th quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider's stock valued at $375,248,000 after acquiring an additional 211,467 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Renewable Partners by 6.3% in the first quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider's stock valued at $184,904,000 after buying an additional 492,199 shares during the period. Bank of Montreal Can lifted its holdings in shares of Brookfield Renewable Partners by 4.7% in the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider's stock valued at $160,585,000 after buying an additional 315,272 shares during the period. TD Asset Management Inc lifted its holdings in shares of Brookfield Renewable Partners by 30.1% during the first quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider's stock valued at $65,866,000 after purchasing an additional 689,196 shares during the last quarter. Finally, Scotia Capital Inc. lifted its holdings in shares of Brookfield Renewable Partners by 13.5% during the fourth quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider's stock valued at $61,433,000 after purchasing an additional 323,619 shares during the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Price Performance

Shares of BEP stock opened at $25.83 on Friday. The stock's fifty day simple moving average is $25.80 and its 200 day simple moving average is $23.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of -27.19 and a beta of 1.05. Brookfield Renewable Partners L.P. has a one year low of $19.29 and a one year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.64 billion. Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. On average, analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 5.8%. Brookfield Renewable Partners's dividend payout ratio is currently -147.52%.

Analysts Set New Price Targets

Several research analysts recently weighed in on BEP shares. Wells Fargo & Company dropped their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. CIBC raised their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a research note on Monday, July 21st. National Bank Financial raised Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. Scotiabank lifted their price target on Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 18th. Finally, Raymond James Financial downgraded Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.89.

About Brookfield Renewable Partners

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.

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