Brookfield Renewable Partners L.P. (NYSE:BEP) Sees Significant Increase in Short Interest

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

Brookfield Renewable Partners Trading Down 4.4 %

Shares of NYSE:BEP opened at $20.92 on Tuesday. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The firm has a market cap of $5.97 billion, a P/E ratio of -23.51 and a beta of 0.95. The company has a 50 day moving average of $23.03 and a 200-day moving average of $24.71. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter in the previous year, the business earned $0.01 earnings per share. As a group, analysts anticipate that Brookfield Renewable Partners will post -0.76 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.373 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 7.13%. Brookfield Renewable Partners’s dividend payout ratio is -167.42%.

Institutional Trading of Brookfield Renewable Partners

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after buying an additional 442 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth about $28,000. Allworth Financial LP acquired a new stake in shares of Brookfield Renewable Partners in the fourth quarter valued at $68,000. Waverton Investment Management Ltd acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at $178,000. Finally, Barclays PLC lifted its holdings in Brookfield Renewable Partners by 40.6% in the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after buying an additional 2,036 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on BEP. CIBC dropped their price objective on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research note on Monday. Scotiabank dropped their price target on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday. National Bankshares cut their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Finally, StockNews.com raised shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a report on Monday. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $30.60.

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.