TD Asset Management Inc Boosts Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Key Points

• TD Asset Management Inc increased its position in Brookfield Renewable Partners by 30.1%, acquiring 689,196 shares during the first quarter, bringing its total to approximately 2.975 million shares valued at $65.87 million.
• Brookfield Renewable Partners recently reported a loss of $0.35 earnings per share (EPS) for the last quarter, which missed analysts' consensus estimates.
• The company announced a quarterly dividend of $0.373 per share with a dividend yield of 5.46%, despite having a negative dividend payout ratio.

TD Asset Management Inc boosted its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 30.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,975,447 shares of the utilities provider's stock after buying an additional 689,196 shares during the quarter. TD Asset Management Inc owned approximately 1.05% of Brookfield Renewable Partners worth $65,866,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its stake in shares of 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 in the last quarter. Rossby Financial LCC bought a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at $41,000. NBC Securities Inc. bought a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at $42,000. Trifecta Capital Advisors LLC bought a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at $69,000. Finally, Barclays PLC increased its stake in shares of Brookfield Renewable Partners by 13.5% in the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider's stock valued at $183,000 after acquiring an additional 951 shares in the last quarter. Institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Trading Up 0.7%

BEP stock traded up $0.19 on Thursday, reaching $27.24. The company's stock had a trading volume of 351,236 shares, compared to its average volume of 649,177. The business has a fifty day simple moving average of $25.66 and a two-hundred day simple moving average of $23.45. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $29.56. The firm has a market cap of $7.73 billion, a PE ratio of -27.03 and a beta of 0.99. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.51 and a current ratio of 0.51.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings data on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.15% and a negative net margin of 0.79%. The firm had revenue of $907.00 million during the quarter, compared to the consensus estimate of $1.73 billion. As a group, research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a dividend of $0.373 per share. The ex-dividend date was Friday, May 30th. This represents a $1.49 annualized dividend and a dividend yield of 5.48%. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -147.52%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays assumed coverage on shares of Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They set an "equal weight" rating and a $27.00 price target for the company. 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. 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. National Bank Financial upgraded shares of Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. 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 issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.