Brookfield Renewable Partners L.P. (NYSE:BEP) Short Interest Down 38.2% in March

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 700,758 shares, a decrease of 38.2% from the February 26th total of 1,133,864 shares. Based on an average daily trading volume, of 686,254 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have weighed in on BEP shares. Wall Street Zen raised Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Barclays set a $28.00 price target on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Mizuho set a $31.00 price objective on shares of Brookfield Renewable Partners and gave the company a “neutral” rating in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Monday, December 29th. Finally, UBS Group reissued a “buy” rating and set a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.21.

Brookfield Renewable Partners Price Performance

NYSE BEP traded up $0.34 on Friday, reaching $31.76. 405,432 shares of the stock traded hands, compared to its average volume of 681,648. Brookfield Renewable Partners has a 12 month low of $19.29 and a 12 month high of $32.78. The company has a market cap of $9.70 billion, a price-to-earnings ratio of -122.15 and a beta of 1.13. The firm’s fifty day simple moving average is $30.51 and its 200 day simple moving average is $28.74. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80.

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. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. As a group, research analysts predict 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. Stockholders of record on Friday, February 27th will be given a dividend of $0.392 per share. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 27th. This represents a $1.57 annualized dividend and a dividend yield of 4.9%. Brookfield Renewable Partners’s payout ratio is -600.00%.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Purpose Unlimited Inc. purchased a new stake in Brookfield Renewable Partners during the fourth quarter valued at about $12,576,000. Ovata Capital Management Ltd increased its position in shares of Brookfield Renewable Partners by 3.3% in the fourth quarter. Ovata Capital Management Ltd now owns 180,781 shares of the utilities provider’s stock worth $4,876,000 after acquiring an additional 5,855 shares in the last quarter. Ketron Financial purchased a new position in shares of Brookfield Renewable Partners in the fourth quarter worth approximately $305,000. Mackenzie Financial Corp raised its holdings in shares of Brookfield Renewable Partners by 3.5% during the fourth quarter. Mackenzie Financial Corp now owns 48,359 shares of the utilities provider’s stock valued at $1,297,000 after acquiring an additional 1,623 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Brookfield Renewable Partners in the 4th quarter valued at approximately $1,073,000. 63.16% of the stock is currently owned by institutional investors.

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.