Virtu Financial LLC Buys New Position in Brookfield Renewable Partners L.P. $BEP

Key Points

• Virtu Financial LLC has made a new investment of $414,000 in Brookfield Renewable Partners L.P., acquiring 18,686 shares according to a recent SEC filing.
• Brookfield Renewable Partners celebrated a quarterly dividend of $0.373 per share, reflecting an annualized yield of 6.1%.
• The company reported a loss of ($0.22) earnings per share for the last quarter, missing estimates, though revenue reached $1.69 billion, exceeding forecasts.

Virtu Financial LLC purchased a new position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,686 shares of the utilities provider's stock, valued at approximately $414,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Brookfield Renewable Partners by 1.3% in the fourth quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider's stock valued at $375,248,000 after purchasing an additional 211,467 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Brookfield Renewable Partners by 6.3% in the first 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 in the last quarter. TD Asset Management Inc boosted its stake in Brookfield Renewable Partners by 30.1% in the first 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 in the last quarter. CCLA Investment Management boosted its stake in Brookfield Renewable Partners by 1.3% in the first quarter. CCLA Investment Management now owns 2,661,405 shares of the utilities provider's stock valued at $58,923,000 after acquiring an additional 33,433 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Brookfield Renewable Partners by 17.1% in the first quarter. National Bank of Canada FI now owns 2,466,957 shares of the utilities provider's stock valued at $54,395,000 after acquiring an additional 360,693 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Performance

NYSE BEP traded up $0.38 during trading hours on Monday, hitting $24.97. 535,186 shares of the stock were exchanged, compared to its average volume of 638,117. The company has a market cap of $7.09 billion, a price-to-earnings ratio of -26.26 and a beta of 1.05. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $29.56. The stock has a 50-day moving average of $26.04 and a 200 day moving average of $23.87. 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 earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) 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 company had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.64 billion. As a group, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be issued a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 6.0%. Brookfield Renewable Partners's payout ratio is presently -156.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BEP shares. National Bankshares upped their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. CIBC upped their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a research note on Monday, July 21st. Scotiabank upped their price objective on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a research note 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 research note on Thursday, July 17th. Finally, National Bank Financial raised shares of Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday, June 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $30.11.

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.