Toronto Dominion Bank Reduces Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Toronto Dominion Bank trimmed its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 18.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,561,580 shares of the utilities provider’s stock after selling 359,168 shares during the quarter. Toronto Dominion Bank owned 0.55% of Brookfield Renewable Partners worth $38,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BEP. FIL Ltd grew its holdings in Brookfield Renewable Partners by 37.1% in the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after acquiring an additional 3,474,522 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Brookfield Renewable Partners by 1.4% in the fourth quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock worth $326,691,000 after purchasing an additional 173,402 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Brookfield Renewable Partners by 0.9% during the 2nd quarter. Principal Financial Group Inc. now owns 7,275,031 shares of the utilities provider’s stock valued at $180,203,000 after purchasing an additional 66,794 shares during the period. CIBC Asset Management Inc raised its position in Brookfield Renewable Partners by 0.6% during the 2nd quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after purchasing an additional 37,836 shares during the last quarter. Finally, CCLA Investment Management raised its position in Brookfield Renewable Partners by 1.9% during the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock valued at $63,952,000 after purchasing an additional 47,734 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $27.64 on Thursday. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $28.81. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock has a market cap of $7.88 billion, a P/E ratio of -60.09 and a beta of 0.93. The business’s 50 day moving average price is $24.78 and its 200-day moving average price is $24.73.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.41). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The company’s revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. Equities research analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.14%. Brookfield Renewable Partners’s dividend payout ratio is currently -308.69%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BEP shares. TD Securities boosted their target price on Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday. Scotiabank lifted their target price on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, June 12th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, National Bankshares upped their target price on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.90.

Brookfield Renewable Partners 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.