Brookfield Renewable Partners (NYSE:BEP) Sets New 52-Week Low – Should You Sell?

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) hit a new 52-week low during trading on Wednesday . The stock traded as low as $19.92 and last traded at $20.03, with a volume of 1605650 shares traded. The stock had previously closed at $20.69.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BEP. National Bankshares reduced their target price on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. CIBC boosted their target price on Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. cut their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $6.10 billion, a P/E ratio of -26.09 and a beta of 0.95. The firm has a 50 day simple moving average of $23.52 and a 200 day simple moving average of $24.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same quarter last year, the business posted ($0.14) earnings per share. On average, equities research analysts predict that Brookfield Renewable Partners L.P. will post -0.88 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.355 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.42 annualized dividend and a dividend yield of 6.64%. Brookfield Renewable Partners’s payout ratio is currently -173.17%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after purchasing an additional 330,648 shares in the last quarter. Bank of Montreal Can boosted its stake in Brookfield Renewable Partners by 0.4% in the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock worth $190,469,000 after buying an additional 26,189 shares in the last quarter. Cibc World Market Inc. boosted its stake in Brookfield Renewable Partners by 4.4% in the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock worth $62,647,000 after buying an additional 116,593 shares in the last quarter. CCLA Investment Management grew its position in Brookfield Renewable Partners by 1.9% during the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after acquiring an additional 49,553 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Brookfield Renewable Partners by 0.3% during the second quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock worth $40,327,000 after acquiring an additional 5,388 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. 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.