Brookfield Renewable Partners (NYSE:BEP) Sets New 12-Month Low – What’s Next?

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $19.29 and last traded at $19.65, with a volume of 215835 shares changing hands. The stock had previously closed at $20.56.

Wall Street Analysts Forecast Growth

BEP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Barclays initiated coverage on Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. CIBC cut their price target on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and an average price target of $30.18.

Brookfield Renewable Partners Trading Down 0.2 %

The business’s 50-day moving average is $22.45 and its two-hundred day moving average is $24.08. 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 $5.84 billion, a P/E ratio of -23.10 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period in the prior year, the firm posted $0.01 earnings per share. As a group, analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a $0.373 dividend. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 7.27%. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Renewable Partners’s payout ratio is currently -167.42%.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds have recently added to or reduced their stakes in BEP. Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners during the third quarter worth approximately $28,000. Promus Capital LLC bought a new position in Brookfield Renewable Partners during the 4th quarter worth $37,000. Jones Financial Companies Lllp raised its holdings in Brookfield Renewable Partners by 26.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 537 shares in the last quarter. Allworth Financial LP acquired a new position in Brookfield Renewable Partners in the 4th quarter valued at $68,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Brookfield Renewable Partners by 81.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 1,391 shares during the period. 63.16% of the stock is owned by institutional investors and hedge funds.

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.