Brookfield Renewable Partners L.P. (NYSE:BEP) Sees Significant Increase in Short Interest

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,280,000 shares, an increase of 58.5% from the April 30th total of 807,800 shares. Currently, 0.5% of the company's stock are sold short. Based on an average daily trading volume, of 617,000 shares, the days-to-cover ratio is currently 2.1 days.

Brookfield Renewable Partners Stock Performance

NYSE:BEP traded up $0.92 during midday trading on Tuesday, hitting $24.63. The company's stock had a trading volume of 701,831 shares, compared to its average volume of 561,529. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The firm's 50 day moving average is $22.60 and its 200-day moving average is $22.87. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The firm has a market cap of $6.99 billion, a P/E ratio of -27.67 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings data on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. The business had revenue of $907.00 million during the quarter, compared to analysts' expectations of $1.73 billion. Equities analysts anticipate that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a $0.373 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.06%. Brookfield Renewable Partners's payout ratio is -147.52%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Everett Harris & Co. CA raised its stake in shares of Brookfield Renewable Partners by 75.1% during the 4th quarter. Everett Harris & Co. CA now owns 30,300 shares of the utilities provider's stock worth $691,000 after buying an additional 13,000 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in Brookfield Renewable Partners by 27.8% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 23,000 shares of the utilities provider's stock valued at $524,000 after acquiring an additional 5,000 shares during the last quarter. Tyche Wealth Partners LLC lifted its stake in shares of Brookfield Renewable Partners by 40.7% in the 4th quarter. Tyche Wealth Partners LLC now owns 13,825 shares of the utilities provider's stock valued at $315,000 after purchasing an additional 4,000 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Brookfield Renewable Partners by 7.6% during the fourth quarter. Apollon Wealth Management LLC now owns 15,066 shares of the utilities provider's stock worth $343,000 after buying an additional 1,067 shares during the period. Finally, Summit Trail Advisors LLC acquired a new stake in Brookfield Renewable Partners in the 4th quarter valued at approximately $315,000. Institutional investors and hedge funds own 63.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BEP. Barclays assumed coverage on Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. CIBC dropped their target price on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a research report on Monday, May 5th. National Bankshares cut their price target on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Brookfield Renewable Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.13.

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.