TD Asset Management Inc Increases Holdings in Brookfield Renewable Partners L.P. $BEP

TD Asset Management Inc boosted its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 23.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,696,678 shares of the utilities provider’s stock after purchasing an additional 511,529 shares during the period. TD Asset Management Inc owned about 0.95% of Brookfield Renewable Partners worth $72,967,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in Brookfield Renewable Partners by 1.8% during the 4th quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock valued at $277,930,000 after purchasing an additional 177,599 shares during the period. Bank of Montreal Can increased its holdings in Brookfield Renewable Partners by 6.5% during the 3rd quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider’s stock valued at $179,837,000 after purchasing an additional 428,446 shares during the period. Cibc World Market Inc. increased its holdings in Brookfield Renewable Partners by 4.5% during the 4th quarter. Cibc World Market Inc. now owns 2,989,622 shares of the utilities provider’s stock valued at $80,809,000 after purchasing an additional 127,450 shares during the period. Scotia Capital Inc. increased its holdings in Brookfield Renewable Partners by 2.5% during the 3rd quarter. Scotia Capital Inc. now owns 2,751,581 shares of the utilities provider’s stock valued at $70,795,000 after purchasing an additional 67,481 shares during the period. Finally, National Bank of Canada FI increased its holdings in Brookfield Renewable Partners by 8.4% during the 3rd quarter. National Bank of Canada FI now owns 2,697,265 shares of the utilities provider’s stock valued at $69,226,000 after purchasing an additional 207,985 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Down 0.2%

BEP stock opened at $36.54 on Friday. Brookfield Renewable Partners L.P. has a fifty-two week low of $23.80 and a fifty-two week high of $38.12. The business’s 50 day moving average price is $34.41 and its two-hundred day moving average price is $31.04. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of -117.87 and a beta of 1.09.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. As a group, analysts forecast that Brookfield Renewable Partners L.P. will post -1.53 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.3%. Brookfield Renewable Partners’s dividend payout ratio is -506.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BEP. Morgan Stanley boosted their price target on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Friday, March 27th. Zacks Research downgraded Brookfield Renewable Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $40.00 price target (up from $37.00) on shares of Brookfield Renewable Partners in a report on Monday, April 20th. Finally, National Bank Financial upped their target price on Brookfield Renewable Partners from $34.00 to $36.00 and gave the stock a “sector outperform” rating in a report on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and an average price target of $37.71.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.