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

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,790,000 shares, an increase of 36.6% from the January 15th total of 1,310,000 shares. Based on an average daily trading volume, of 728,600 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.7% of the shares of the stock are short sold.

Institutional Trading of Brookfield Renewable Partners

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock valued at $27,000 after buying an additional 442 shares during the period. 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 acquired a new position in shares of Brookfield Renewable Partners in the fourth quarter worth $37,000. Jones Financial Companies Lllp raised its holdings in shares of 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 worth $59,000 after acquiring an additional 537 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth $68,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BEP shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Wells Fargo & Company lowered 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 research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Scotiabank raised their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Finally, National Bankshares dropped their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $30.50.

Brookfield Renewable Partners Trading Up 2.3 %

NYSE BEP traded up $0.51 on Tuesday, hitting $22.94. 708,762 shares of the stock were exchanged, compared to its average volume of 931,963. The company's 50-day moving average price is $22.31 and its two-hundred day moving average price is $24.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of -25.78 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its earnings results 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 return on equity of 0.03% and a negative net margin of 0.15%. During the same period in the previous year, the firm earned $0.01 earnings per share. Research analysts predict that Brookfield Renewable Partners will post -0.99 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 6.50%. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Renewable Partners's previous quarterly dividend of $0.36. Brookfield Renewable Partners's payout ratio is -159.55%.

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.