Brookfield Renewable Partners L.P. (NYSE:BEP) Short Interest Up 22.9% in February

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 2,200,000 shares, an increase of 22.9% from the January 31st total of 1,790,000 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 740,500 shares, the short-interest ratio is currently 3.0 days.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors and hedge funds 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 third quarter valued at $28,000. Promus Capital LLC purchased a new position in Brookfield Renewable Partners during the 4th quarter valued at about $37,000. Jones Financial Companies Lllp raised its holdings in shares of Brookfield Renewable Partners by 26.2% in the 4th 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 in the last quarter. Allworth Financial LP purchased a new stake in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $68,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Brookfield Renewable Partners by 81.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 1,391 shares in the last quarter. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Trading Up 2.5 %

Shares of BEP traded up $0.54 during trading hours on Wednesday, reaching $22.29. 356,056 shares of the company traded hands, compared to its average volume of 850,197. The stock’s fifty day moving average price is $22.18 and its 200 day moving average price is $24.43. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of -25.04 and a beta of 0.95. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its 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 period in the prior year, the company posted $0.01 EPS. Sell-side analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a yield of 6.69%. The ex-dividend date is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -167.42%.

Analysts Set New Price Targets

BEP has been the topic of several recent research reports. Wells Fargo & Company decreased their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. National Bankshares lowered their price objective on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. cut their target price on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, Scotiabank lifted their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.50.

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.