Brookfield Renewable Partners (NYSE:BEP) Trading Down 4.5% – Here’s Why

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) fell 4.5% during mid-day trading on Tuesday . The company traded as low as $27.40 and last traded at $27.60. 147,347 shares changed hands during trading, a decline of 69% from the average session volume of 473,755 shares. The stock had previously closed at $28.89.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. National Bankshares increased their price target on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 19th. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $24.00 to $31.00 in a research note on Monday, September 30th. CIBC lifted their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Brookfield Renewable Partners Stock Down 1.3 %

The firm’s 50-day moving average price is $26.06 and its 200 day moving average price is $25.38. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of -60.54 and a beta of 0.94.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.41). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. On average, sell-side analysts forecast that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -308.70%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Brookfield Renewable Partners by 0.9% during the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock worth $2,017,000 after buying an additional 768 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Brookfield Renewable Partners by 2.5% during the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock worth $866,000 after buying an additional 894 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Brookfield Renewable Partners by 17.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock valued at $156,000 after acquiring an additional 900 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Brookfield Renewable Partners during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

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.