Brookfield Renewable Partners (NYSE:BEP) Sees Large Volume Increase – Still a Buy?

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) saw unusually-high trading volume on Wednesday . Approximately 584,320 shares traded hands during trading, a decline of 24% from the previous session’s volume of 770,429 shares.The stock last traded at $33.0780 and had previously closed at $32.18.

Analyst Ratings Changes

Several research analysts have issued reports on BEP shares. TD lifted their target price on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, May 4th. UBS Group reiterated a “buy” rating and set a $40.00 price target (up from $39.00) on shares of Brookfield Renewable Partners in a report on Friday, June 12th. National Bank Financial raised their price target on shares of Brookfield Renewable Partners from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. Barclays set a $30.00 price objective on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Wednesday. Finally, TD Securities reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.93.

Brookfield Renewable Partners Trading Up 2.9%

The stock has a 50-day simple moving average of $34.61 and a two-hundred day simple moving average of $32.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $9.94 billion, a PE ratio of -106.83 and a beta of 1.10.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. As a group, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -1.55 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a dividend of $0.392 per share. The ex-dividend date was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.7%. Brookfield Renewable Partners’s dividend payout ratio is -506.45%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of large investors have recently added to or reduced their stakes in the stock. Kelleher Financial Advisors bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at $26,000. Russell Investments Group Ltd. purchased a new position in shares of Brookfield Renewable Partners in the 2nd quarter worth $34,000. CENTRAL TRUST Co bought a new stake in shares of Brookfield Renewable Partners in the first quarter worth $55,000. Triumph Capital Management bought a new stake in shares of Brookfield Renewable Partners in the third quarter worth $55,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Brookfield Renewable Partners by 284.5% in the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 1,633 shares during the period. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

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.