Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 25.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,920,748 shares of the utilities provider’s stock after selling 667,510 shares during the quarter. Toronto Dominion Bank owned 0.67% of Brookfield Renewable Partners worth $44,619,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BEP. Steward Partners Investment Advisory LLC boosted its stake in shares of Brookfield Renewable Partners by 8.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock worth $248,000 after acquiring an additional 750 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Brookfield Renewable Partners by 0.9% during the 1st quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock worth $2,017,000 after acquiring an additional 768 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Brookfield Renewable Partners by 17.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after acquiring an additional 900 shares in the last quarter. Baystate Wealth Management LLC purchased a new stake in shares of Brookfield Renewable Partners during the 4th quarter worth about $26,000. Finally, SFE Investment Counsel boosted its stake in shares of Brookfield Renewable Partners by 2.1% during the 4th quarter. SFE Investment Counsel now owns 48,281 shares of the utilities provider’s stock worth $1,269,000 after acquiring an additional 1,000 shares in the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Scotiabank increased their target price on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, June 12th. StockNews.com began coverage on shares of Brookfield Renewable Partners in a research note on Thursday. They issued a “sell” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. TD Securities raised their price target on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, BMO Capital Markets raised their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.42.

Brookfield Renewable Partners Price Performance

BEP stock traded up $0.16 during mid-day trading on Friday, reaching $24.27. The company’s stock had a trading volume of 248,626 shares, compared to its average volume of 486,164. The stock has a market cap of $6.92 billion, a PE ratio of -52.76 and a beta of 0.92. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $30.14. The company’s 50 day moving average is $26.06 and its two-hundred day moving average is $24.66.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.24). The business had revenue of $875.00 million during the quarter, compared to analyst estimates of $828.39 million. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. Equities research analysts expect that Brookfield Renewable Partners L.P. will post -0.49 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were issued a dividend of $0.355 per share. The ex-dividend date was Friday, May 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.85%. Brookfield Renewable Partners’s dividend payout ratio is currently -308.69%.

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.