Brookfield Renewable Partners (NYSE:BEP) Hits New 1-Year Low - What's Next?

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP reached a new 52-week low during trading on Monday . The company traded as low as $19.29 and last traded at $19.65, with a volume of 215835 shares traded. The stock had previously closed at $20.56.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BEP shares. StockNews.com cut shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price target 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 lowered their price objective 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. Finally, Barclays initiated coverage on Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.18.

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Brookfield Renewable Partners Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The firm has a market cap of $6.07 billion, a P/E ratio of -23.96 and a beta of 0.99. The business's fifty day moving average is $22.44 and its 200-day moving average is $23.83.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping 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 last year, the firm earned $0.01 EPS. Analysts predict that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Brookfield Renewable Partners's previous quarterly dividend of $0.36. Brookfield Renewable Partners's payout ratio is -167.42%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds have recently made changes to their positions in the stock. CCLA Investment Management raised its holdings in Brookfield Renewable Partners by 1.9% during the 4th quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider's stock worth $59,838,000 after purchasing an additional 49,553 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Brookfield Renewable Partners by 23.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider's stock worth $192,605,000 after buying an additional 1,628,524 shares during the period. Abel Hall LLC acquired a new position in Brookfield Renewable Partners in the fourth quarter valued at $456,000. Raymond James Financial Inc. bought a new stake in Brookfield Renewable Partners during the fourth quarter valued at $2,623,000. Finally, NINE MASTS CAPITAL Ltd boosted its position in Brookfield Renewable Partners by 240.0% during the fourth quarter. NINE MASTS CAPITAL Ltd now owns 137,573 shares of the utilities provider's stock valued at $3,135,000 after acquiring an additional 97,105 shares during the last quarter. 63.16% of the stock is currently owned by 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.