Brookfield Renewable Partners (NYSE:BEP) Shares Down 4.5% – Should You Sell?

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was down 4.5% on Tuesday . The company traded as low as $27.40 and last traded at $27.60. Approximately 147,347 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 473,755 shares. The stock had previously closed at $28.89.

Wall Street Analysts Forecast Growth

BEP has been the topic of several recent research reports. National Bankshares lifted their target price on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC increased their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Brookfield Renewable Partners Stock Performance

The company has a 50 day moving average price of $26.06 and a 200 day moving average price of $25.38. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of -60.54 and a beta of 0.94.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company earned ($0.10) earnings per share. Brookfield Renewable Partners’s revenue for the quarter was up 23.0% compared to the same quarter last year. Equities research analysts predict that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio is currently -308.70%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Brookfield Renewable Partners during the first quarter valued at approximately $31,000. Evermay Wealth Management LLC bought a new stake in Brookfield Renewable Partners during the first quarter worth $49,000. Clear Point Advisors Inc. bought a new position in Brookfield Renewable Partners during the 1st quarter valued at $49,000. Finally, PNC Financial Services Group Inc. lifted its stake in Brookfield Renewable Partners by 17.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock valued at $156,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

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.