Short Interest in Brookfield Renewable Partners L.P. (NYSE:BEP) Expands By 8.8%

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 1,110,000 shares, a growth of 8.8% from the December 15th total of 1,020,000 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 533,900 shares, the short-interest ratio is currently 2.1 days.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 target price for the company in a research note on Thursday, December 12th. CIBC raised their price target on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. Finally, UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $31.00 in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.44.

Brookfield Renewable Partners Price Performance

BEP stock opened at $20.64 on Tuesday. The company has a market capitalization of $5.88 billion, a P/E ratio of -25.17 and a beta of 0.95. The company has a fifty day moving average price of $23.91 and a 200-day moving average price of $25.06. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. During the same period in the prior year, the business earned ($0.14) earnings per share. As a group, equities analysts expect that Brookfield Renewable Partners will post -0.88 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 6.88%. The ex-dividend date was Friday, November 29th. Brookfield Renewable Partners’s payout ratio is presently -173.17%.

Institutional Trading of Brookfield Renewable Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. APG Asset Management N.V. increased its position in shares of Brookfield Renewable Partners by 0.3% during the second quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock worth $40,327,000 after buying an additional 5,388 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Brookfield Renewable Partners by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock worth $6,988,000 after acquiring an additional 1,333 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Brookfield Renewable Partners in the 2nd quarter worth about $359,000. GAMMA Investing LLC raised its position in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 442 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $206,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Company 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.