Brookfield Renewable Partners (NYSE:BEP) Sees Strong Trading Volume

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Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) shares saw unusually-high trading volume on Thursday . Approximately 20,745 shares were traded during mid-day trading, a decline of 95% from the previous session’s volume of 449,447 shares.The stock last traded at $35.45 and had previously closed at $35.27.

BEP has been the topic of several recent analyst reports. Tudor Pickering & Holt set a $44.00 price target on Brookfield Renewable Partners and gave the company a “buy” rating in a research note on Wednesday, September 22nd. Raymond James set a $44.00 price target on Brookfield Renewable Partners and gave the company an “outperform” rating in a research note on Monday, November 8th. TD Securities raised Brookfield Renewable Partners from a “hold” rating to a “buy” rating and decreased their price target for the company from $44.00 to $41.00 in a research note on Thursday, December 16th. CSFB set a $45.00 price objective on Brookfield Renewable Partners and gave the company an “outperform” rating in a report on Wednesday, September 22nd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $45.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, September 22nd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners has a consensus rating of “Buy” and a consensus price target of $44.42.

The company has a fifty day simple moving average of $36.93 and a two-hundred day simple moving average of $38.04. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.95. The company has a market cap of $9.76 billion, a PE ratio of -44.38 and a beta of 0.64.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Thursday, November 4th. The utilities provider reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.13). Brookfield Renewable Partners had a negative return on equity of 1.92% and a negative net margin of 9.91%. The company had revenue of $966.00 million for the quarter, compared to analysts’ expectations of $988.78 million. During the same quarter last year, the company earned ($0.29) EPS. Brookfield Renewable Partners’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts anticipate that Brookfield Renewable Partners L.P. will post -0.54 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 31st. Stockholders of record on Tuesday, November 30th will be issued a $0.304 dividend. The ex-dividend date of this dividend is Monday, November 29th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 3.43%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.30. Brookfield Renewable Partners’s dividend payout ratio is presently -152.50%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BEP. JTC Employer Solutions Trusteee Ltd purchased a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at about $26,000. Advisory Services Network LLC purchased a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at about $44,000. Van ECK Associates Corp purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $44,000. Kozak & Associates Inc. purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $50,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of Brookfield Renewable Partners by 99.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 139,280 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 69,425 shares during the last quarter. Institutional investors and hedge funds own 54.79% of the company’s stock.

Brookfield Renewable Partners Company Profile (NYSE:BEP)

Brookfield Renewable Partners LP engages in owning a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China.. It operates through following segments: Hydroelectric, Wind, Solar, Energy Transition, and Corporate. The Energy Transition segment distributes generation, pumped storage, cogeneration, and biomass.

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