Brookfield Renewable Partners (NYSE:BEP) Sets New 52-Week Low at $19.92

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $19.92 and last traded at $20.12, with a volume of 457385 shares. The stock had previously closed at $20.51.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BEP. National Bankshares lifted their price target on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $28.00 target price (down previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. Finally, StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.60.

Brookfield Renewable Partners Stock Down 1.7 %

The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85. The firm’s 50 day simple moving average is $23.01 and its two-hundred day simple moving average is $23.89.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 12.23% and a return on equity of 2.23%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted ($0.16) earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts predict that Brookfield Renewable Partners L.P. will post -0.01 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were paid a $0.355 dividend. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. This represents a $1.42 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend was Wednesday, February 28th. Brookfield Renewable Partners’s payout ratio is -421.88%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Brookfield Renewable Partners by 36.7% during the second quarter. Royal Bank of Canada now owns 13,135,145 shares of the utilities provider’s stock worth $387,355,000 after acquiring an additional 3,523,830 shares in the last quarter. FIL Ltd increased its position in shares of Brookfield Renewable Partners by 37.1% during the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after acquiring an additional 3,474,522 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Brookfield Renewable Partners by 63.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock worth $162,917,000 after acquiring an additional 2,394,853 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Brookfield Renewable Partners by 106.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,442,452 shares of the utilities provider’s stock worth $100,311,000 after acquiring an additional 1,261,692 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Brookfield Renewable Partners by 286.2% during the third quarter. Ameriprise Financial Inc. now owns 917,641 shares of the utilities provider’s stock worth $19,950,000 after acquiring an additional 680,035 shares in the last quarter. 63.16% of the stock is owned by institutional investors.

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.