Brookfield Renewable Partners L.P. (NYSE:BEP – Get Rating) (TSE:BEP) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,110,000 shares, an increase of 9.9% from the August 15th total of 1,010,000 shares. Approximately 0.4% of the company's stock are sold short. Based on an average trading volume of 214,900 shares, the short-interest ratio is presently 5.2 days.
Brookfield Renewable Partners Stock Performance
Shares of BEP traded down $0.55 during mid-day trading on Tuesday, reaching $37.60. 124,292 shares of the company's stock were exchanged, compared to its average volume of 329,505. The business's fifty day simple moving average is $37.78 and its 200-day simple moving average is $37.18. The stock has a market capitalization of $10.35 billion, a PE ratio of -72.33 and a beta of 0.70. Brookfield Renewable Partners has a 52-week low of $30.93 and a 52-week high of $41.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73.
Get Brookfield Renewable Partners alerts:Brookfield Renewable Partners (NYSE:BEP – Get Rating) (TSE:BEP) last posted its quarterly earnings data on Friday, August 5th. The utilities provider reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.12). Brookfield Renewable Partners had a net margin of 0.76% and a return on equity of 0.15%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $725.48 million. On average, equities research analysts expect that Brookfield Renewable Partners will post -0.26 earnings per share for the current year.
Brookfield Renewable Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, August 30th. This represents a $1.28 dividend on an annualized basis and a yield of 3.40%. Brookfield Renewable Partners's payout ratio is -246.15%.Analyst Ratings Changes
BEP has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable Partners from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, August 8th. Royal Bank of Canada raised their price objective on shares of Brookfield Renewable Partners from $39.00 to $43.00 and gave the company a "sector perform" rating in a report on Monday, August 8th. TheStreet upgraded shares of Brookfield Renewable Partners from a "d+" rating to a "c-" rating in a research note on Friday, August 5th. Wells Fargo & Company increased their target price on Brookfield Renewable Partners from $40.00 to $42.00 and gave the company an "overweight" rating in a report on Monday, August 8th. Finally, National Bankshares lifted their price target on Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of BEP. Envestnet Asset Management Inc. grew its position in Brookfield Renewable Partners by 37.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 8,894 shares of the utilities provider's stock valued at $318,000 after buying an additional 2,442 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Brookfield Renewable Partners by 12.2% in the fourth quarter. Northern Trust Corp now owns 81,328 shares of the utilities provider's stock valued at $2,911,000 after acquiring an additional 8,843 shares in the last quarter. Raymond James & Associates increased its stake in shares of Brookfield Renewable Partners by 2.8% during the fourth quarter. Raymond James & Associates now owns 36,291 shares of the utilities provider's stock worth $1,302,000 after acquiring an additional 1,000 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Brookfield Renewable Partners by 293.1% during the fourth quarter. BNP Paribas Arbitrage SA now owns 18,027 shares of the utilities provider's stock worth $645,000 after purchasing an additional 13,441 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Brookfield Renewable Partners in the fourth quarter valued at about $13,247,000. Institutional investors and hedge funds own 57.87% of the company's stock.
Brookfield Renewable Partners Company Profile
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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 hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.
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