Brookfield Renewable Partners L.P. (NYSE:BEP) Stock Short Interest Report for October

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 1,358,930 shares, an increase of 85.2% from the September 30th total of 733,588 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,130,988 shares, the short-interest ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

BEP has been the topic of several analyst reports. Zacks Research upgraded Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. UBS Group reissued a “buy” rating and set a $34.00 target price (down from $40.00) on shares of Brookfield Renewable Partners in a research note on Thursday, October 1st. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $41.00 price target on shares of Brookfield Renewable Partners in a research report on Friday, July 17th. BMO Capital Markets set a $41.00 price target on shares of Brookfield Renewable Partners in a report on Monday, August 17th. Finally, JPMorgan Chase & Co. lowered their price target on Brookfield Renewable Partners from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.73.

Brookfield Renewable Partners Stock Up 4.6%

Brookfield Renewable Partners stock traded up $1.32 during midday trading on Monday, reaching $29.97. The stock had a trading volume of 2,380,576 shares, compared to its average volume of 893,755. The firm’s fifty day simple moving average is $29.68 and its 200-day simple moving average is $32.03. Brookfield Renewable Partners has a 1-year low of $26.30 and a 1-year high of $38.12. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $9.07 billion, a P/E ratio of -65.15 and a beta of 1.08.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, July 31st. The utilities provider reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.56 billion. Brookfield Renewable Partners had a net margin of 4.50% and a return on equity of 0.84%. As a group, analysts expect that Brookfield Renewable Partners will post -1.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Diversify Advisory Services LLC grew its position in shares of Brookfield Renewable Partners by 1.9% in the 3rd quarter. Diversify Advisory Services LLC now owns 27,068 shares of the utilities provider’s stock worth $776,000 after buying an additional 502 shares during the last quarter. Kelleher Financial Advisors boosted its position in shares of Brookfield Renewable Partners by 54.1% in the 3rd quarter. Kelleher Financial Advisors now owns 1,561 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 548 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of Brookfield Renewable Partners by 3.3% in the third quarter. Apollon Wealth Management LLC now owns 17,928 shares of the utilities provider’s stock worth $504,000 after acquiring an additional 574 shares during the last quarter. GAMMA Investing LLC increased its stake in Brookfield Renewable Partners by 44.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,460 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 757 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of Brookfield Renewable Partners by 2.3% during the first quarter. Sanctuary Advisors LLC now owns 65,217 shares of the utilities provider’s stock valued at $2,129,000 after acquiring an additional 1,494 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a global renewable power and sustainable solutions company. The partnership develops, owns and operates a diversified portfolio of renewable energy facilities, with hydroelectric generation complemented by onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy transition assets.

Through its operating platforms, Brookfield Renewable supplies electricity and related energy services to utilities, corporations and other customers.