Brookfield Renewable Partners (NYSE:BEP) Sees Unusually-High Trading Volume – Here’s What Happened

by · The Cerbat Gem

Brookfield Renewable Partners L.P. (NYSE:BEP – Get Free Report) (TSE:BEP) saw an uptick in trading volume on Wednesday . 1,228,773 shares were traded during trading, an increase of 83% from the previous session’s volume of 670,637 shares.The stock last traded at $28.2360 and had previously closed at $28.24.

Analyst Upgrades and Downgrades

BEP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Renewable Partners in a research note on Wednesday, October 8th. Mizuho set a $33.00 price target on Brookfield Renewable Partners in a report on Friday, November 7th. CIBC set a $35.00 price objective on Brookfield Renewable Partners and gave the company an “outperformer” rating in a report on Thursday, November 6th. Finally, BMO Capital Markets set a $36.00 price objective on Brookfield Renewable Partners and gave the company an “outperform” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.79.

Check Out Our Latest Report on Brookfield Renewable Partners

Brookfield Renewable Partners Price Performance

The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a 50 day simple moving average of $28.22 and a two-hundred day simple moving average of $26.38. The company has a market cap of $8.63 billion, a price-to-earnings ratio of -29.68 and a beta of 1.16.

Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last posted its quarterly earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.22. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. On average, equities research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a $0.373 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.3%. Brookfield Renewable Partners’s dividend payout ratio is -173.26%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BEP. Principal Financial Group Inc. increased its position in shares of Brookfield Renewable Partners by 16.2% during 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. Liontrust Investment Partners LLP purchased a new position in shares of Brookfield Renewable Partners during the 2nd quarter worth approximately $24,180,000. CIBC Bancorp USA Inc. acquired a new stake in Brookfield Renewable Partners in the 3rd quarter valued at approximately $19,944,000. SCS Capital Management LLC purchased a new stake in Brookfield Renewable Partners in the first quarter valued at approximately $15,939,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Brookfield Renewable Partners by 177.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 984,840 shares of the utilities provider’s stock valued at $25,126,000 after purchasing an additional 629,940 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Renewable Partners

(Get Free Report)

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.

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