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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 831,908 shares, an increase of 28.8% from the December 31st total of 645,709 shares. Based on an average daily volume of 521,036 shares, the short-interest ratio is currently 1.6 days. Currently, 0.3% of the shares of the stock are sold short. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 521,036 shares, the short-interest ratio is currently 1.6 days.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds have recently bought and sold shares of the business. S&CO Inc. purchased a new stake in shares of Brookfield Renewable Partners in the second quarter worth approximately $255,000. Liontrust Investment Partners LLP acquired a new position in Brookfield Renewable Partners in the 2nd quarter valued at approximately $24,180,000. HB Wealth Management LLC acquired a new position in Brookfield Renewable Partners in the 3rd quarter valued at approximately $979,000. NINE MASTS CAPITAL Ltd purchased a new stake in Brookfield Renewable Partners in the 2nd quarter worth approximately $5,552,000. Finally, Blair William & Co. IL purchased a new stake in Brookfield Renewable Partners in the 2nd quarter worth approximately $476,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BEP shares. Desjardins upgraded shares of Brookfield Renewable Partners to a “hold” rating in a report on Wednesday, November 26th. Barclays set a $28.00 price target on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Mizuho set a $31.00 price objective on Brookfield Renewable Partners and gave the company a “neutral” rating in a research report on Monday. CIBC set a $35.00 price objective on Brookfield Renewable Partners and gave the stock an “outperformer” rating in a research note on Thursday, November 6th. Finally, Morgan Stanley restated an “overweight” rating and issued a $38.00 target price (up from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.79.

Brookfield Renewable Partners Trading Up 0.0%

Shares of NYSE:BEP traded up $0.01 during mid-day trading on Monday, hitting $29.84. The stock had a trading volume of 576,619 shares, compared to its average volume of 553,225. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $9.13 billion, a PE ratio of -114.77 and a beta of 1.14. Brookfield Renewable Partners has a 12-month low of $19.29 and a 12-month high of $32.72. The company’s 50 day moving average is $27.92 and its 200-day moving average is $27.35.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.18%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. On average, sell-side analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a dividend of $0.392 per share. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio is presently -173.26%.

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.