Brookfield Renewable Partners L.P. (NYSE:BEP) Short Interest Up 28.8% in January

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 831,908 shares, an increase of 28.8% from the December 31st total of 645,709 shares. Based on an average daily trading volume, of 521,036 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.3% of the company’s shares are short sold. Approximately 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 521,036 shares, the days-to-cover ratio is presently 1.6 days.

Brookfield Renewable Partners Stock Up 1.5%

Shares of NYSE:BEP opened at $30.33 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.58 and a current ratio of 0.19. Brookfield Renewable Partners has a 52-week low of $19.29 and a 52-week high of $32.72. The business’s 50 day simple moving average is $27.96 and its two-hundred day simple moving average is $27.37. The firm has a market cap of $9.28 billion, a P/E ratio of -116.63 and a beta of 1.14.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. As a group, research analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.2%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Renewable Partners’s payout ratio is -573.08%.

Analyst Ratings Changes

BEP has been the topic of a number of research analyst reports. BMO Capital Markets set a $36.00 price target on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. upped their target price on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Barclays set a $28.00 target price on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. CIBC set a $35.00 target price on Brookfield Renewable Partners and gave the stock an “outperformer” rating in a report on Thursday, November 6th. Finally, Raymond James Financial restated an “outperform” rating and set a $35.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 29th. One 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.79.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kelleher Financial Advisors acquired a new position in Brookfield Renewable Partners during the 3rd quarter valued at about $26,000. Hilltop National Bank bought a new position in shares of Brookfield Renewable Partners in the second quarter valued at approximately $34,000. Russell Investments Group Ltd. purchased a new position in shares of Brookfield Renewable Partners during the second quarter valued at approximately $34,000. Root Financial Partners LLC bought a new stake in Brookfield Renewable Partners during the third quarter worth $46,000. Finally, Activest Wealth Management purchased a new stake in Brookfield Renewable Partners in the 2nd quarter valued at $50,000. Institutional investors and hedge funds 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.