Triasima Portfolio Management inc. Purchases New Shares in Brookfield Renewable Partners L.P. (NYSE:BEP)

Triasima Portfolio Management inc. acquired a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 684,800 shares of the utilities provider’s stock, valued at approximately $16,936,000. Brookfield Renewable Partners accounts for about 1.5% of Triasima Portfolio Management inc.’s portfolio, making the stock its 25th largest holding. Triasima Portfolio Management inc. owned about 0.24% of Brookfield Renewable Partners at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. FIL Ltd raised 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 purchasing an additional 3,474,522 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Brookfield Renewable Partners by 1.4% during the 4th quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock worth $326,691,000 after buying an additional 173,402 shares during the period. Principal Financial Group Inc. lifted its position in shares of 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 buying an additional 66,794 shares in the last quarter. CIBC Asset Management Inc grew its stake in Brookfield Renewable Partners by 0.6% in 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 acquiring an additional 37,836 shares during the period. Finally, CCLA Investment Management grew its stake in Brookfield Renewable Partners by 1.4% in the 1st quarter. CCLA Investment Management now owns 2,530,685 shares of the utilities provider’s stock valued at $58,733,000 after acquiring an additional 34,915 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Trading Down 2.4 %

Brookfield Renewable Partners stock traded down $0.61 during midday trading on Friday, hitting $24.30. 344,027 shares of the stock were exchanged, compared to its average volume of 481,533. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock’s 50-day simple moving average is $24.70 and its 200 day simple moving average is $24.47. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $28.81. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of -52.83 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly 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 firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. On average, equities analysts anticipate that Brookfield Renewable Partners L.P. will post -0.87 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date is Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio is presently -308.70%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BEP shares. National Bankshares increased their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 19th. TD Securities lifted their price objective on Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Scotiabank increased their target price on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, June 12th. JPMorgan Chase & Co. raised their target price on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, August 5th. One equities 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 company. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.82.

About Brookfield Renewable Partners

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.