TD Waterhouse Canada Inc. Acquires 53,316 Shares of Brookfield Renewable Partners L.P. $BEP

Key Points

• TD Waterhouse Canada increased its Brookfield Renewable Partners stake by 5%, buying 53,316 shares to reach 1.13 million shares valued at approximately $32.0 million. Institutional investors collectively own 63.16% of BEP.
• Brookfield Renewable shares opened at $28.42, down 0.8%, and remain below their 52-week high of $38.12. The company recently missed quarterly EPS expectations but exceeded revenue estimates.
• The company paid a quarterly dividend of $0.392 per share, equivalent to an annualized $1.57 payout and a 5.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $37.43.

TD Waterhouse Canada Inc. raised its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,125,447 shares of the utilities provider's stock after purchasing an additional 53,316 shares during the period. TD Waterhouse Canada Inc. owned 0.37% of Brookfield Renewable Partners worth $31,986,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BEP. Bank of America Corp DE lifted its holdings in shares of Brookfield Renewable Partners by 413.2% during the 1st quarter. Bank of America Corp DE now owns 973,260 shares of the utilities provider's stock worth $31,767,000 after acquiring an additional 783,620 shares during the last quarter. Oak Grove Capital LLC grew its position in Brookfield Renewable Partners by 71.8% in the third quarter. Oak Grove Capital LLC now owns 1,202,100 shares of the utilities provider's stock worth $33,827,000 after acquiring an additional 502,300 shares in the last quarter. Purpose Unlimited Inc. purchased a new position in Brookfield Renewable Partners in the fourth quarter worth $12,576,000. Bank of Nova Scotia grew its position in Brookfield Renewable Partners by 11.0% in the first quarter. Bank of Nova Scotia now owns 1,148,128 shares of the utilities provider's stock worth $37,444,000 after acquiring an additional 114,127 shares in the last quarter. Finally, Groupe la Francaise increased its stake in Brookfield Renewable Partners by 194.5% in the first quarter. Groupe la Francaise now owns 159,894 shares of the utilities provider's stock valued at $5,214,000 after acquiring an additional 105,599 shares during the last quarter. Institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Down 0.8%

Shares of NYSE BEP opened at $28.42 on Friday. The stock has a market capitalization of $8.61 billion, a P/E ratio of -61.78 and a beta of 1.10. Brookfield Renewable Partners L.P. has a one year low of $26.30 and a one year high of $38.12. The firm's 50 day simple moving average is $30.67 and its two-hundred day simple moving average is $32.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.80 and a quick ratio of 0.80.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings data on Friday, July 31st. The utilities provider reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.02). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.56 billion. Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. As a group, analysts expect that Brookfield Renewable Partners L.P. will post -1.87 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were issued a dividend of $0.3920 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.57 annualized dividend and a dividend yield of 5.5%. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -341.30%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BEP shares. UBS Group restated a "buy" rating and set a $34.00 price target (down from $40.00) on shares of Brookfield Renewable Partners in a research report on Thursday, October 1st. Barclays set a $30.00 price target on Brookfield Renewable Partners and gave the stock an "equal weight" rating in a research note on Wednesday, July 22nd. Zacks Research upgraded Brookfield Renewable Partners from a "strong sell" rating to a "hold" rating in a report on Friday, August 14th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Brookfield Renewable Partners in a report on Monday, September 21st. Finally, BMO Capital Markets set a $41.00 price objective on Brookfield Renewable Partners in a research report on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.43.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a renewable power and energy transition company that owns and operates a diversified portfolio of clean energy assets. Its main activities include generating electricity from hydroelectric, wind and solar facilities, as well as providing energy storage and other decarbonization solutions.

The company serves electricity markets and commercial, industrial and utility customers across North America, South America, Europe and the Asia-Pacific region. In addition to operating renewable power facilities, Brookfield Renewable develops new projects and invests in businesses supporting the transition to lower-carbon energy, including distributed energy and sustainable solutions.

Brookfield Renewable traces its origins to Brookfield Asset Management's renewable power operations and became publicly listed as Brookfield Renewable Energy Partners in 2011.

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