Truvestments Capital LLC Takes $54,000 Position in Brookfield Renewable Partners LP (BEP)

Truvestments Capital LLC purchased a new position in shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,690 shares of the utilities provider’s stock, valued at approximately $54,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BEP. The Manufacturers Life Insurance Company raised its holdings in Brookfield Renewable Partners by 215.8% during the third quarter. The Manufacturers Life Insurance Company now owns 438,060 shares of the utilities provider’s stock worth $13,247,000 after purchasing an additional 299,335 shares in the last quarter. Toronto Dominion Bank grew its position in Brookfield Renewable Partners by 10.8% during the fourth quarter. Toronto Dominion Bank now owns 2,764,898 shares of the utilities provider’s stock worth $71,683,000 after buying an additional 269,877 shares during the period. FMR LLC acquired a new position in Brookfield Renewable Partners during the third quarter worth about $6,034,000. Montrusco Bolton Investments Inc. grew its position in Brookfield Renewable Partners by 8.8% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 1,469,500 shares of the utilities provider’s stock worth $38,034,000 after buying an additional 118,954 shares during the period. Finally, Intact Investment Management Inc. acquired a new position in Brookfield Renewable Partners during the fourth quarter worth about $2,964,000. 54.52% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE BEP opened at $31.33 on Monday. Brookfield Renewable Partners LP has a 1 year low of $24.51 and a 1 year high of $32.15. The company has a market cap of $5.62 billion, a P/E ratio of 241.00, a PEG ratio of 14.98 and a beta of 0.57. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.62.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 28th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $2.06 dividend on an annualized basis and a yield of 6.58%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.49. Brookfield Renewable Partners’s dividend payout ratio (DPR) is 1,584.62%.

BEP has been the topic of several recent analyst reports. ValuEngine lowered shares of Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Raymond James restated a “market perform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Tuesday, February 12th. Wells Fargo & Co restated a “buy” rating and set a $36.00 target price on shares of Brookfield Renewable Partners in a research report on Thursday, April 4th. Finally, TheStreet upgraded shares of Brookfield Renewable Partners from a “d+” rating to a “c” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.75.

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Brookfield Renewable Partners 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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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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