Brookfield Renewable Partners L.P. (NYSE:BEP – Get Free Report) (TSE:BEP) was the recipient of a significant growth in short interest during 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 trading volume of 533,900 shares, the short-interest ratio is presently 2.1 days. Currently, 0.4% of the shares of the company are short sold.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. StockNews.com raised Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday. Scotiabank reduced their target price on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. JPMorgan Chase & Co. dropped their target price on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, National Bankshares reduced their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. One research 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. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $30.60.
View Our Latest Stock Analysis on Brookfield Renewable Partners
Brookfield Renewable Partners Trading Down 4.4 %
Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating 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 forecast that Brookfield Renewable Partners will post -0.76 EPS for the current fiscal year.
Brookfield Renewable Partners Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.373 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 7.13%. Brookfield Renewable Partners’s dividend payout ratio is presently -167.42%.
Hedge Funds Weigh In On Brookfield Renewable Partners
Several hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its holdings in shares of Brookfield Renewable Partners by 23.8% in the 4th quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock worth $192,605,000 after purchasing an additional 1,628,524 shares during the period. Intact Investment Management Inc. bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth approximately $42,331,000. Principal Financial Group Inc. raised its stake in shares of Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after buying an additional 330,648 shares in the last quarter. Mirabella Financial Services LLP boosted its stake in Brookfield Renewable Partners by 145.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after buying an additional 276,374 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Brookfield Renewable Partners during the 3rd quarter worth about $6,191,000. 63.16% of the stock is currently owned by hedge funds and other 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.
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