Brookfield Renewable Partners L.P. (NYSE:BEP) Short Interest Update

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,600,000 shares, a decrease of 24.5% from the February 28th total of 2,120,000 shares. Approximately 0.6% of the company's stock are sold short. Based on an average daily trading volume, of 733,600 shares, the short-interest ratio is currently 2.2 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays started coverage on shares of Brookfield Renewable Partners in a research report on Wednesday. They set an "equal weight" rating and a $27.00 target price for the company. Wells Fargo & Company lowered their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. CIBC cut their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating on the stock in a research report on Monday, February 3rd. StockNews.com lowered Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of "Moderate Buy" and an average price target of $30.18.

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Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock traded down $0.14 during trading hours on Thursday, hitting $22.43. 1,318,734 shares of the company's stock traded hands, compared to its average volume of 569,782. The company has a fifty day simple moving average of $22.47 and a 200-day simple moving average of $24.15. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of -25.20 and a beta of 1.02. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate 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 period last year, the business earned $0.01 EPS. Equities research analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a $0.373 dividend. This is an increase from Brookfield Renewable Partners's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 6.65%. Brookfield Renewable Partners's dividend payout ratio is presently -167.42%.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at $28,000. Promus Capital LLC bought a new stake in Brookfield Renewable Partners in the 4th quarter valued at about $37,000. Jones Financial Companies Lllp lifted its holdings in Brookfield Renewable Partners by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock valued at $59,000 after purchasing an additional 537 shares during the last quarter. Allworth Financial LP bought a new position in Brookfield Renewable Partners during the fourth quarter worth about $68,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Brookfield Renewable Partners by 81.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider's stock worth $71,000 after purchasing an additional 1,391 shares in the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

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.