TD Asset Management Inc Buys 511,529 Shares of Brookfield Renewable Partners L.P. $BEP

TD Asset Management Inc lifted its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 23.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,696,678 shares of the utilities provider’s stock after purchasing an additional 511,529 shares during the quarter. TD Asset Management Inc’s holdings in Brookfield Renewable Partners were worth $72,967,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kelleher Financial Advisors bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth approximately $26,000. Russell Investments Group Ltd. bought a new stake in shares of Brookfield Renewable Partners in the 2nd quarter worth approximately $34,000. Triumph Capital Management bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth approximately $55,000. Global Retirement Partners LLC boosted its position in shares of Brookfield Renewable Partners by 284.5% in the 4th quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 1,633 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth approximately $81,000. 63.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Friday, March 27th. JPMorgan Chase & Co. upped their price objective on Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. National Bank Financial upped their price objective on Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a “sector outperform” rating in a research report on Monday, May 4th. TD Securities reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. Finally, Morgan Stanley upped their price objective on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.71.

Brookfield Renewable Partners Stock Performance

BEP stock opened at $36.54 on Friday. The stock has a market capitalization of $11.08 billion, a PE ratio of -117.87 and a beta of 1.09. Brookfield Renewable Partners L.P. has a 12-month low of $23.80 and a 12-month high of $38.12. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock’s 50 day simple moving average is $34.41 and its 200 day simple moving average is $31.04.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced 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). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. As a group, research 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid 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 yield of 4.3%. Brookfield Renewable Partners’s payout ratio is currently -506.45%.

Brookfield Renewable Partners Company 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.