TD Asset Management Inc Reduces Position in Brookfield Renewable Partners L.P. $BEP

Key Points

• TD Asset Management Inc has reduced its holdings in Brookfield Renewable Partners L.P. by 2.9%, owning approximately 1.02% of the company at the end of the second quarter.
• Brookfield Renewable Partners recently declared a quarterly dividend of $0.373 per share, which has a 5.3% dividend yield, despite a negative payout ratio of -156.84%.
• Several analysts have set new price targets for Brookfield Renewable Partners, with a consensus rating of "Moderate Buy" and an average price target of $30.00.

TD Asset Management Inc decreased its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,888,169 shares of the utilities provider's stock after selling 87,278 shares during the period. TD Asset Management Inc owned approximately 1.02% of Brookfield Renewable Partners worth $73,490,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BEP. Golden State Wealth Management LLC boosted its holdings in shares of Brookfield Renewable Partners by 103.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock worth $25,000 after purchasing an additional 579 shares during the last quarter. Hilltop National Bank purchased a new position in Brookfield Renewable Partners during the second quarter worth approximately $34,000. Rossby Financial LCC acquired a new position in Brookfield Renewable Partners during the first quarter worth $41,000. Northwestern Mutual Wealth Management Co. boosted its stake in Brookfield Renewable Partners by 136.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider's stock worth $60,000 after buying an additional 1,576 shares during the last quarter. Finally, Trifecta Capital Advisors LLC purchased a new stake in Brookfield Renewable Partners in the 1st quarter valued at $69,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BEP has been the topic of several analyst reports. 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 report on Friday, July 18th. National Bankshares raised their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Mizuho increased their price target on shares of Brookfield Renewable Partners from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, September 26th. Finally, Raymond James Financial downgraded shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $30.00.

Brookfield Renewable Partners Stock Up 4.4%

NYSE:BEP opened at $28.03 on Thursday. Brookfield Renewable Partners L.P. has a 52 week low of $19.29 and a 52 week high of $29.56. The stock's fifty day moving average is $25.64 and its two-hundred day moving average is $24.77. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of -29.50 and a beta of 1.13. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.97.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.64 billion. Research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio is currently -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.

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