Short Interest in Brookfield Renewable Partners L.P. (NYSE:BEP) Rises By 8.8%

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,110,000 shares, a growth of 8.8% from the December 15th total of 1,020,000 shares. Based on an average daily volume of 533,900 shares, the days-to-cover ratio is currently 2.1 days. Approximately 0.4% of the shares of the company are sold short.

Brookfield Renewable Partners Stock Down 1.4 %

Shares of NYSE BEP traded down $0.29 during trading on Monday, hitting $20.64. 1,121,749 shares of the company traded hands, compared to its average volume of 414,074. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The business’s fifty day moving average is $23.91 and its 200 day moving average is $25.06. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of -25.17 and a beta of 0.95. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. During the same period in the previous year, the company earned ($0.14) earnings per share. Equities research analysts predict that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. CIBC increased their target price on Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. National Bankshares cut their price objective 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. Finally, JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 target price for the company in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.44.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several institutional investors have recently bought and sold shares of BEP. GAMMA Investing LLC grew its position in Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners in the third quarter valued at approximately $28,000. Waverton Investment Management Ltd purchased a new stake in shares of Brookfield Renewable Partners during the third quarter valued at approximately $178,000. Barclays PLC lifted its holdings in Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 2,036 shares during the period. Finally, Creative Planning purchased a new position in Brookfield Renewable Partners in the third quarter worth $206,000. Institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.