Brookfield Renewable Partners (NYSE:BEP) Trading 6.8% Higher on Earnings Beat

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) shares traded up 6.8% during trading on Friday following a stronger than expected earnings report. The company traded as high as $22.01 and last traded at $22.11. 616,739 shares were traded during mid-day trading, a decline of 38% from the average session volume of 992,481 shares. The stock had previously closed at $20.70.

The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the previous year, the business earned $0.01 EPS.

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 6.48%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.17%.

Analyst Ratings Changes

BEP has been the topic of several recent analyst reports. Scotiabank dropped their target price on shares of Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. CIBC lifted their target price on Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. Finally, National Bankshares lowered their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.78.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its stake in Brookfield Renewable Partners by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after purchasing an additional 403 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 valued at $27,000 after acquiring an additional 442 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Brookfield Renewable Partners by 1.6% during the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock valued at $1,321,000 after acquiring an additional 749 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in shares of Brookfield Renewable Partners by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after purchasing an additional 945 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners in the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $6.24 billion, a PE ratio of -26.70 and a beta of 0.95. The business’s 50 day moving average is $23.09 and its two-hundred day moving average is $24.75.

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.