Brookfield Renewable Partners (NYSE:BEP) Sees Large Volume Increase - Here's Why

Key Points

• Trading/price snapshot: About 651,828 shares traded (down 4% from the prior session) and the stock last traded near $34.04; market cap ~ $10.0 billion with 50- and 200-day SMAs of $32.35 and $30.03 respectively.
• Analyst view: Consensus rating is a "Moderate Buy" with a $35.93 target; notable recent upgrades include Morgan Stanley (to Overweight, $42 PT) and CIBC (Outperform, $40 PT), with 1 Strong Buy, 11 Buy and 4 Hold across analysts.
• Dividend and results: Brookfield Renewable raised its quarterly dividend to $0.392 ($1.57 annualized, ~4.8% yield) and recently beat quarterly estimates with $0.54 EPS and $1.54B revenue, though analysts expect -$0.87 EPS for the current fiscal year.

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP shares saw unusually-high trading volume on Wednesday . Approximately 651,828 shares traded hands during trading, a decline of 4% from the previous session's volume of 682,029 shares.The stock last traded at $34.0360 and had previously closed at $33.23.

Wall Street Analysts Forecast Growth

BEP has been the topic of a number of recent research reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Brookfield Renewable Partners in a research report on Friday, March 27th. Wall Street Zen raised Brookfield Renewable Partners from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $40.00 target price (up from $37.00) on shares of Brookfield Renewable Partners in a research report on Monday, April 20th. Barclays set a $28.00 price target on shares of Brookfield Renewable Partners and gave the stock an "equal weight" rating in a research note on Friday, January 23rd. Finally, Morgan Stanley raised their price target on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an "overweight" rating in a research note on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners has an average rating of "Moderate Buy" and a consensus target price of $35.93.

Brookfield Renewable Partners Trading Down 0.8%

The stock has a market cap of $10.00 billion, a P/E ratio of -126.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.57. The business's 50 day simple moving average is $32.35 and its 200 day simple moving average is $30.03.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings results on Friday, January 30th. The utilities provider reported $0.54 EPS for the quarter, topping analysts' consensus estimates of ($0.34) by $0.88. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.49 billion. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. On average, analysts expect that Brookfield Renewable Partners L.P. will post -0.87 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were paid a dividend of $0.392 per share. This is a positive change from Brookfield Renewable Partners's previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Friday, February 27th. Brookfield Renewable Partners's dividend payout ratio is -600.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. HB Wealth Management LLC bought a new position in shares of Brookfield Renewable Partners in the third quarter valued at approximately $979,000. Ovata Capital Management Ltd bought a new position in shares of Brookfield Renewable Partners in the third quarter valued at approximately $4,511,000. Citigroup Inc. raised its stake in shares of Brookfield Renewable Partners by 246.1% in the third quarter. Citigroup Inc. now owns 169,621 shares of the utilities provider's stock valued at $4,373,000 after acquiring an additional 120,618 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield Renewable Partners by 16.2% in the third quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider's stock valued at $261,189,000 after acquiring an additional 1,414,837 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its stake in shares of Brookfield Renewable Partners by 95.6% in the third quarter. Picton Mahoney Asset Management now owns 1,070,639 shares of the utilities provider's stock valued at $27,589,000 after acquiring an additional 523,263 shares during the last quarter. Institutional investors 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.

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