Brookfield Renewable Partners (NYSE:BEP) Trading Down 4.5% - Should You Sell?

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP traded down 4.5% during mid-day trading on Tuesday . The stock traded as low as $27.40 and last traded at $27.60. 147,347 shares were traded during mid-day trading, a decline of 69% from the average session volume of 473,755 shares. The stock had previously closed at $28.89.

Analysts Set New Price Targets

BEP has been the subject of a number of research analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. StockNews.com cut Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a report on Friday, August 2nd. CIBC raised their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an "outperformer" rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, October 17th. Finally, UBS Group raised shares of Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and increased their price target for the company from $24.00 to $31.00 in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $32.50.

Brookfield Renewable Partners Stock Down 2.3 %

The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of -61.35 and a beta of 0.94. The firm's 50 day simple moving average is $25.99 and its 200-day simple moving average is $25.36.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the firm earned ($0.10) earnings per share. The business's quarterly revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $0.355 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.03%. Brookfield Renewable Partners's payout ratio is currently -308.70%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in BEP. GAMMA Investing LLC increased its holdings in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 442 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Brookfield Renewable Partners in the 1st quarter worth $31,000. Evermay Wealth Management LLC bought a new stake in shares of Brookfield Renewable Partners in the first quarter valued at about $49,000. Clear Point Advisors Inc. acquired a new stake in shares of Brookfield Renewable Partners during the 1st quarter valued at about $49,000. Finally, PNC Financial Services Group Inc. raised its position in Brookfield Renewable Partners by 17.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider's stock worth $156,000 after purchasing an additional 900 shares in the last quarter. 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.