AGF Management Ltd. Has $34.94 Million Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Key Points

• AGF Management Ltd. reduced its stake in Brookfield Renewable Partners by 2.1%, now holding approximately $34.9 million in shares after selling 33,105 in the first quarter.
• Brookfield Renewable Partners reported a loss of $0.22 earnings per share in its latest quarterly results, missing expectations, although revenue slightly surpassed estimates.
• The company declared a quarterly dividend of $0.373, representing an annual yield of 6.0%, with the ex-dividend date on August 29th.

AGF Management Ltd. trimmed its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 2.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,555,305 shares of the utilities provider's stock after selling 33,105 shares during the quarter. AGF Management Ltd. owned 0.55% of Brookfield Renewable Partners worth $34,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of BEP. Golden State Wealth Management LLC lifted its holdings in Brookfield Renewable Partners by 103.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 579 shares during the last quarter. Rossby Financial LCC acquired a new stake in Brookfield Renewable Partners in the 1st quarter valued at about $41,000. NBC Securities Inc. acquired a new stake in Brookfield Renewable Partners in the 1st quarter valued at about $42,000. Trifecta Capital Advisors LLC purchased a new stake in Brookfield Renewable Partners during the first quarter valued at about $69,000. Finally, Barclays PLC lifted its stake in Brookfield Renewable Partners by 13.5% during the fourth quarter. Barclays PLC now owns 7,998 shares of the utilities provider's stock valued at $183,000 after buying an additional 951 shares in the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BEP has been the subject of a number of analyst reports. Scotiabank upped their price objective on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 18th. Raymond James Financial lowered shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. reduced their price objective 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. National Bank Financial raised shares of Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday, June 8th. Finally, National Bankshares increased 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 report on Tuesday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.11.

Brookfield Renewable Partners Stock Up 1.1%

BEP traded up $0.27 during midday trading on Friday, hitting $24.59. 683,149 shares of the company's stock traded hands, compared to its average volume of 434,059. Brookfield Renewable Partners L.P. has a one year low of $19.29 and a one year high of $29.56. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. The stock's fifty day simple moving average is $26.04 and its 200-day simple moving average is $23.82. The company has a market cap of $6.98 billion, a PE ratio of -25.88 and a beta of 1.05.

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 for the quarter, compared to analyst estimates of $1.64 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. As a group, equities analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a $0.373 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 6.1%. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -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.