Toronto Dominion Bank Boosts Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Toronto Dominion Bank lifted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 12.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,947,783 shares of the utilities provider's stock after buying an additional 212,321 shares during the period. Toronto Dominion Bank owned approximately 0.68% of Brookfield Renewable Partners worth $44,307,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in 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 worth $375,248,000 after acquiring an additional 211,467 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Brookfield Renewable Partners by 4.2% in the fourth quarter. Captrust Financial Advisors now owns 25,033 shares of the utilities provider's stock valued at $570,000 after purchasing an additional 1,012 shares during the period. Bank of America Corp DE increased its holdings in shares of Brookfield Renewable Partners by 12.1% in the fourth quarter. Bank of America Corp DE now owns 698,025 shares of the utilities provider's stock valued at $15,908,000 after purchasing an additional 75,083 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Brookfield Renewable Partners by 20.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,616,911 shares of the utilities provider's stock worth $36,849,000 after purchasing an additional 275,612 shares during the last quarter. Finally, Anson Funds Management LP acquired a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth about $938,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Performance

BEP stock traded down $0.25 during midday trading on Wednesday, hitting $24.02. 368,704 shares of the stock traded hands, compared to its average volume of 562,465. Brookfield Renewable Partners L.P. has a 1-year low of $19.29 and a 1-year high of $29.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The stock's fifty day simple moving average is $22.52 and its 200-day simple moving average is $23.02. The firm has a market cap of $6.82 billion, a P/E ratio of -26.99 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). The business had revenue of $907.00 million for the quarter, compared to analyst estimates of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. On average, analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date is Friday, May 30th. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -147.52%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Scotiabank raised their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Barclays began coverage on shares of Brookfield Renewable Partners in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price target on the stock. Finally, StockNews.com downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.67.

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.