CCLA Investment Management Has $58.92 Million Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Key Points

• CCLA Investment Management has increased its holdings in Brookfield Renewable Partners by 1.3%, now owning approximately 2.66 million shares valued at nearly $58.92 million.
• Several institutional investors, including TD Asset Management and Texas Yale Capital Corp, have also significantly increased their stakes in Brookfield Renewable Partners during the first quarter.
• Brookfield Renewable Partners reported a loss of ($0.22) earnings per share for the recent quarter, missing expectations, while announcing a dividend of $0.373 set for payment on September 30th.

CCLA Investment Management increased its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,661,405 shares of the utilities provider's stock after acquiring an additional 33,433 shares during the quarter. CCLA Investment Management owned about 0.94% of Brookfield Renewable Partners worth $58,923,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia Trust Co. increased its holdings in Brookfield Renewable Partners by 0.5% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 149,221 shares of the utilities provider's stock worth $3,307,000 after purchasing an additional 726 shares in the last quarter. Commerce Bank bought a new stake in Brookfield Renewable Partners during the 1st quarter worth about $5,127,000. Arkadios Wealth Advisors boosted its stake in shares of Brookfield Renewable Partners by 15.6% during the 1st quarter. Arkadios Wealth Advisors now owns 60,590 shares of the utilities provider's stock worth $1,343,000 after buying an additional 8,191 shares during the last quarter. Texas Yale Capital Corp. grew its holdings in shares of Brookfield Renewable Partners by 45.8% in the 1st quarter. Texas Yale Capital Corp. now owns 49,350 shares of the utilities provider's stock valued at $1,094,000 after acquiring an additional 15,500 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in 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. Institutional investors and hedge funds own 63.16% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on BEP. JPMorgan Chase & Co. cut their price objective on Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Scotiabank boosted their price objective on shares of 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. Raymond James Financial cut Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. National Bank Financial upgraded Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. Finally, CIBC lifted 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $29.89.

Brookfield Renewable Partners Stock Performance

NYSE BEP opened at $25.83 on Friday. The firm has a 50-day moving average price of $25.80 and a two-hundred day moving average price of $23.54. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $29.56. The company has a market capitalization of $7.33 billion, a P/E ratio of -27.19 and a beta of 1.05. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.90.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (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 the consensus estimate of $1.64 billion. Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. Analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be issued a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 5.8%. Brookfield Renewable Partners's dividend payout ratio is currently -147.52%.

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.

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