Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 276,300 shares, a decline of 37.6% from the September 30th total of 443,100 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 186,500 shares, the days-to-cover ratio is presently 1.5 days.

Several analysts recently issued reports on BEP shares. Barclays boosted their target price on shares of Brookfield Renewable Partners from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Wells Fargo & Co boosted their target price on shares of Brookfield Renewable Partners from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday. TD Securities lowered shares of Brookfield Renewable Partners from a “buy” rating to a “hold” rating and boosted their target price for the company from $43.00 to $45.00 in a research report on Tuesday. Raymond James restated a “market perform” rating and set a $40.00 target price on shares of Brookfield Renewable Partners in a research report on Tuesday. Finally, Royal Bank of Canada boosted their target price on shares of Brookfield Renewable Partners from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $42.11.

Shares of BEP traded up $0.05 during mid-day trading on Thursday, reaching $44.43. The stock had a trading volume of 294,587 shares, compared to its average volume of 176,192. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 341.77 and a beta of 0.48. Brookfield Renewable Partners has a 12 month low of $24.51 and a 12 month high of $44.57. The business has a fifty day moving average of $41.89 and a 200 day moving average of $36.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 0.94.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Monday, November 11th. The utilities provider reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.18). The firm had revenue of $642.00 million during the quarter. Brookfield Renewable Partners had a return on equity of 1.70% and a net margin of 9.26%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Usca Ria LLC bought a new position in shares of Brookfield Renewable Partners in the third quarter worth approximately $30,000. Coastal Investment Advisors Inc. bought a new position in shares of Brookfield Renewable Partners in the third quarter worth approximately $32,000. Lenox Wealth Advisors LLC bought a new position in shares of Brookfield Renewable Partners in the third quarter worth approximately $43,000. Oppenheimer Asset Management Inc. boosted its position in shares of Brookfield Renewable Partners by 56.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,097 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 396 shares during the period. Finally, Gradient Investments LLC purchased a new position in shares of Brookfield Renewable Partners in the third quarter worth $57,000. Institutional investors and hedge funds own 54.47% of the company’s stock.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

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