Texas Yale Capital Corp. Purchases 15,500 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Key Points

• Texas Yale Capital Corp. has increased its stake in Brookfield Renewable Partners L.P. by 45.8%, now holding a total of 49,350 shares valued at approximately $1,094,000.
• Brookfield Renewable Partners reported a loss of ($0.35) EPS for the last quarter, falling short of estimates, with revenue of $907 million compared to a projected $1.73 billion.
• The company has declared a quarterly dividend of $0.373 per share, representing an annualized yield of 5.46%, despite a negative payout ratio of -147.52%.

Texas Yale Capital Corp. grew its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 45.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,350 shares of the utilities provider's stock after acquiring an additional 15,500 shares during the period. Texas Yale Capital Corp.'s holdings in Brookfield Renewable Partners were worth $1,094,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Brookfield Renewable Partners by 1.3% in the 4th quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider's stock valued at $375,248,000 after acquiring an additional 211,467 shares during the period. Principal Financial Group Inc. grew its position in shares of Brookfield Renewable Partners by 6.3% in the 1st quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider's stock valued at $184,904,000 after acquiring an additional 492,199 shares during the period. Bank of Montreal Can grew its position in shares of Brookfield Renewable Partners by 4.7% in the 4th quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider's stock valued at $160,585,000 after acquiring an additional 315,272 shares during the period. TD Asset Management Inc grew its position in shares of Brookfield Renewable Partners by 30.1% in the 1st quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider's stock valued at $65,866,000 after acquiring an additional 689,196 shares during the period. Finally, Scotia Capital Inc. boosted its holdings in shares of Brookfield Renewable Partners by 13.5% during the 4th quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider's stock worth $61,433,000 after buying an additional 323,619 shares during the period. Institutional investors own 63.16% of the company's stock.

Analyst Ratings Changes

BEP has been the subject of several research analyst reports. Scotiabank lifted their target price on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 18th. 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. CIBC lifted their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a report on Monday, July 21st. National Bank Financial raised shares of Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday, June 8th. Finally, Wells Fargo & Company reduced their target price on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, May 5th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.89.

Brookfield Renewable Partners Stock Performance

BEP stock traded up $0.18 during mid-day trading on Thursday, hitting $27.23. The company had a trading volume of 372,801 shares, compared to its average volume of 649,327. The firm has a market cap of $7.73 billion, a PE ratio of -26.92 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 L.P. has a 12 month low of $19.29 and a 12 month high of $29.56. The stock's fifty day moving average price is $25.66 and its two-hundred day moving average price is $23.45.

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

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 yield of 5.48%. Brookfield Renewable Partners's payout ratio is presently -147.52%.

Brookfield Renewable Partners Company 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.