Texas Yale Capital Corp. Boosts Stake in 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. raised its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 45.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,350 shares of the utilities provider's stock after buying an additional 15,500 shares during the quarter. Texas Yale Capital Corp.'s holdings in Brookfield Renewable Partners were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in Brookfield Renewable Partners by 103.6% during the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock worth $25,000 after buying an additional 579 shares in the last quarter. Rossby Financial LCC purchased a new position in Brookfield Renewable Partners during the first quarter worth about $41,000. NBC Securities Inc. purchased a new position in Brookfield Renewable Partners during the first quarter worth about $42,000. Trifecta Capital Advisors LLC purchased a new position in Brookfield Renewable Partners during the first quarter worth about $69,000. Finally, Barclays PLC grew its position in Brookfield Renewable Partners by 13.5% during the fourth quarter. Barclays PLC now owns 7,998 shares of the utilities provider's stock worth $183,000 after buying an additional 951 shares in the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Price Performance

BEP opened at $27.34 on Monday. The stock's 50 day simple moving average is $25.49 and its 200 day simple moving average is $23.37. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.51 and a quick ratio of 0.51. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $29.56. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of -27.06 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. As a group, analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared 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 yield of 5.46%. Brookfield Renewable Partners's payout ratio is -147.52%.

Analyst Ratings Changes

Several research firms recently commented on BEP. JPMorgan Chase & Co. reduced their target price on Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Scotiabank upped their price objective 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 Bank Financial upgraded Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday, June 8th. Barclays began coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price objective for the company. Finally, CIBC upped their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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