Short Interest in Brookfield Renewable Partners L.P. (NYSE:BEP) Decreases By 15.9%

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 2,700,000 shares, a decrease of 15.9% from the April 15th total of 3,210,000 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 595,500 shares, the short-interest ratio is presently 4.5 days.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors have recently modified their holdings of BEP. Baystate Wealth Management LLC purchased a new stake in Brookfield Renewable Partners during the 4th quarter valued at about $26,000. Scarborough Advisors LLC purchased a new stake in Brookfield Renewable Partners during the 4th quarter valued at about $30,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Brookfield Renewable Partners during the 1st quarter valued at about $31,000. Evermay Wealth Management LLC purchased a new stake in Brookfield Renewable Partners during the 1st quarter valued at about $49,000. Finally, Northwest Financial Advisors purchased a new stake in Brookfield Renewable Partners during the 4th quarter valued at about $65,000. 63.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reissued a "neutral" rating and set a $28.00 price objective (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. National Bankshares increased their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, May 6th. Scotiabank increased their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, May 6th. BMO Capital Markets increased their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, May 6th. Finally, Royal Bank of Canada 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 Monday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.75.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock traded down $0.60 during trading on Tuesday, hitting $26.73. 775,489 shares of the stock traded hands, compared to its average volume of 533,571. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.88. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of -58.11 and a beta of 0.83. The firm's fifty day moving average is $22.97 and its 200-day moving average is $24.15. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $32.76.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.355 per share. The ex-dividend date is Friday, May 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.31%. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -308.69%.

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.