Toronto Dominion Bank raised its position in Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) by 69.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,635,065 shares of the utilities provider’s stock after purchasing an additional 672,877 shares during the period. Toronto Dominion Bank owned about 0.89% of Brookfield Renewable Partners worth $78,282,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. lifted its stake in Brookfield Renewable Partners by 29.7% in the 1st quarter. 1832 Asset Management L.P. now owns 938 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 215 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Brookfield Renewable Partners by 8.8% in the second quarter. Parallel Advisors LLC now owns 3,031 shares of the utilities provider’s stock worth $145,000 after purchasing an additional 244 shares during the period. Baldrige Asset Management LLC lifted its stake in Brookfield Renewable Partners by 5.3% in the second quarter. Baldrige Asset Management LLC now owns 6,761 shares of the utilities provider’s stock valued at $324,000 after buying an additional 342 shares during the last quarter. Evanson Asset Management LLC grew its position in shares of Brookfield Renewable Partners by 3.7% during the second quarter. Evanson Asset Management LLC now owns 10,392 shares of the utilities provider’s stock worth $498,000 after acquiring an additional 370 shares during the last quarter. Finally, Baldwin Investment Management LLC boosted its stake in Brookfield Renewable Partners by 2.0% during the 2nd quarter. Baldwin Investment Management LLC now owns 18,653 shares of the utilities provider’s stock valued at $893,000 after purchasing an additional 373 shares during the period. 52.97% of the stock is currently owned by institutional investors.
BEP has been the topic of a number of recent analyst reports. Industrial Alliance Securities cut Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Credit Suisse Group lifted their price objective on shares of Brookfield Renewable Partners from $64.00 to $68.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. TD Securities increased their target price on shares of Brookfield Renewable Partners from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, August 10th. TheStreet upgraded shares of Brookfield Renewable Partners from a “d+” rating to a “c” rating in a report on Friday, June 19th. Finally, National Bank Financial dropped their price target on Brookfield Renewable Partners from $59.00 to $47.00 and set a “sector perform” rating on the stock in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Brookfield Renewable Partners presently has an average rating of “Hold” and a consensus target price of $52.70.
BEP stock traded up $0.49 during midday trading on Wednesday, hitting $45.82. 16,265 shares of the company traded hands, compared to its average volume of 340,712. Brookfield Renewable Partners LP has a twelve month low of $24.07 and a twelve month high of $48.22. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of -99.61 and a beta of 0.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.63. The business has a 50 day simple moving average of $45.48 and a 200-day simple moving average of $46.85.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, August 7th. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.30). Brookfield Renewable Partners had a net margin of 1.42% and a return on equity of 0.25%. The business had revenue of $651.00 million during the quarter.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be given a $0.434 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.74 annualized dividend and a dividend yield of 3.79%.
Brookfield Renewable Partners Company Profile
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.
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