Brookfield Renewable Partners L.P. (NYSE:BEP) Sees Large Decrease in Short Interest

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 645,709 shares, a decrease of 23.4% from the December 15th total of 843,497 shares. Based on an average daily volume of 486,183 shares, the short-interest ratio is presently 1.3 days. Approximately 0.2% of the company’s shares are short sold. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 486,183 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, December 29th. Scotiabank restated an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Brookfield Renewable Partners in a report on Thursday, November 6th. UBS Group reaffirmed a “buy” rating and issued a $39.00 price objective (up from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. TD Securities increased their target price on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Mizuho set a $33.00 price objective on shares of Brookfield Renewable Partners in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.86.

Brookfield Renewable Partners Stock Up 0.7%

Shares of BEP traded up $0.20 during mid-day trading on Monday, reaching $28.20. 566,102 shares of the stock traded hands, compared to its average volume of 399,654. The stock has a fifty day simple moving average of $27.94 and a 200 day simple moving average of $27.17. Brookfield Renewable Partners has a 12-month low of $19.29 and a 12-month high of $32.72. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.91. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of -32.79 and a beta of 1.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.22. Brookfield Renewable Partners had a net margin of 3.52% and a return on equity of 0.66%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.61 billion. Sell-side analysts expect that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were paid a dividend of $0.373 per share. The ex-dividend date was Friday, November 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.3%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BEP. Kelleher Financial Advisors acquired a new stake in Brookfield Renewable Partners during the 3rd quarter valued at approximately $26,000. Hilltop National Bank purchased a new position in shares of Brookfield Renewable Partners during the 2nd quarter valued at approximately $34,000. Russell Investments Group Ltd. acquired a new stake in shares of Brookfield Renewable Partners during the second quarter worth approximately $34,000. Root Financial Partners LLC bought a new stake in shares of Brookfield Renewable Partners in the third quarter worth $46,000. Finally, Activest Wealth Management acquired a new stake in Brookfield Renewable Partners in the second quarter valued at $50,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.