Short Interest in Brookfield Renewable Partners L.P. (NYSE:BEP) Increases By 13.3%

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 2,050,000 shares, a growth of 13.3% from the August 31st total of 1,810,000 shares. Based on an average daily trading volume, of 429,100 shares, the short-interest ratio is currently 4.8 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC grew its holdings in Brookfield Renewable Partners by 12.1% during the fourth quarter. Corient Private Wealth LLC now owns 18,188 shares of the utilities provider’s stock worth $478,000 after acquiring an additional 1,968 shares during the period. Franklin Resources Inc. raised its position in shares of Brookfield Renewable Partners by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 82,262 shares of the utilities provider’s stock worth $2,162,000 after acquiring an additional 1,126 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Brookfield Renewable Partners by 8.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock worth $248,000 after acquiring an additional 750 shares in the last quarter. Fiduciary Trust Co grew its position in shares of Brookfield Renewable Partners by 22.5% during the 4th quarter. Fiduciary Trust Co now owns 14,587 shares of the utilities provider’s stock valued at $383,000 after acquiring an additional 2,680 shares during the period. Finally, Bank of Nova Scotia increased its stake in shares of Brookfield Renewable Partners by 10.7% in the 4th quarter. Bank of Nova Scotia now owns 704,744 shares of the utilities provider’s stock valued at $18,515,000 after purchasing an additional 67,964 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock opened at $28.17 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $28.81. The firm has a market capitalization of $8.03 billion, a P/E ratio of -61.24 and a beta of 0.93. The company has a 50 day moving average price of $25.06 and a 200 day moving average price of $24.87.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.41). Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm posted ($0.10) EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. Sell-side analysts expect that Brookfield Renewable Partners will post -0.57 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.04%. The ex-dividend date was Friday, August 30th. Brookfield Renewable Partners’s payout ratio is -308.70%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BEP shares. National Bankshares upped their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, August 5th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $31.00 in a research report on Monday. Scotiabank raised their price target on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, June 12th. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.50.

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.