Brookfield Renewable Partners (NYSE:BEP) Sets New 52-Week Low at $19.92

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) reached a new 52-week low during trading on Tuesday . The company traded as low as $19.92 and last traded at $20.12, with a volume of 457385 shares changing hands. The stock had previously closed at $20.51.

Analyst Ratings Changes

BEP has been the subject of a number of analyst reports. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $28.00 price target (down from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, February 12th. Finally, National Bankshares increased their price objective on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.60.

Brookfield Renewable Partners Stock Performance

The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a 50 day moving average of $23.01 and a 200-day moving average of $23.89.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted ($0.16) earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts anticipate that Brookfield Renewable Partners L.P. will post -0.01 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 7.04%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, February 28th. Brookfield Renewable Partners’s payout ratio is currently -421.88%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors have recently added to or reduced their stakes in the stock. Baystate Wealth Management LLC acquired a new stake in Brookfield Renewable Partners during the fourth quarter valued at approximately $26,000. Financial Freedom LLC acquired a new position in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $28,000. Scarborough Advisors LLC acquired a new position in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $30,000. Clear Street Markets LLC bought a new position in Brookfield Renewable Partners in the 4th quarter worth approximately $34,000. Finally, Geneos Wealth Management Inc. raised its position in Brookfield Renewable Partners by 363.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,275 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 1,000 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

About Brookfield Renewable Partners

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.