Brookfield Renewable Partners (NYSE:BEP) Sees Unusually-High Trading Volume – Here’s Why

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) saw an uptick in trading volume on Wednesday . 651,828 shares changed hands during mid-day trading, a decline of 4% from the previous session’s volume of 682,029 shares.The stock last traded at $34.0360 and had previously closed at $33.23.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BEP. Zacks Research upgraded Brookfield Renewable Partners from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. boosted their target price on Brookfield Renewable Partners from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Mizuho set a $31.00 target price on Brookfield Renewable Partners and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Wall Street Zen upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Morgan Stanley boosted their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.93.

Brookfield Renewable Partners Stock Up 3.3%

The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80. The company has a 50-day simple moving average of $32.40 and a two-hundred day simple moving average of $30.07. The stock has a market cap of $10.05 billion, a P/E ratio of -127.46 and a beta of 1.09.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%.The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. On average, equities analysts forecast that Brookfield Renewable Partners L.P. will post -0.87 EPS for the current year.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently bought and sold shares of BEP. BROOKFIELD Corp ON lifted its position in Brookfield Renewable Partners by 9.4% in the fourth quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after purchasing an additional 6,967,670 shares during the last quarter. State of Wisconsin Investment Board lifted its position in Brookfield Renewable Partners by 128.0% in the fourth quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider’s stock valued at $131,265,000 after purchasing an additional 2,732,542 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Brookfield Renewable Partners by 20.3% during the fourth quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock valued at $226,859,000 after buying an additional 1,415,989 shares during the period. Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable Partners by 16.2% during the third quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock valued at $261,189,000 after buying an additional 1,414,837 shares during the period. Finally, Morgan Stanley increased its stake in shares of Brookfield Renewable Partners by 41.9% during the fourth quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock valued at $108,663,000 after buying an additional 1,189,130 shares during the period. Institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.