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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was the recipient of a large increase in short interest in 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. Based on an average daily volume of 1,130,988 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.4% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages recently commented on BEP. Zacks Research raised shares of Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. National Bank Financial set a $38.00 price objective on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a research note on Thursday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Monday, September 21st. UBS Group reiterated a “buy” rating and issued a $34.00 target price (down from $40.00) on shares of Brookfield Renewable Partners in a research note on Thursday, October 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of 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 investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.73.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $29.97 on Tuesday. The business has a 50-day simple moving average of $29.62 and a two-hundred day simple moving average of $32.03. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.87. Brookfield Renewable Partners has a 52 week low of $26.30 and a 52 week high of $38.12. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of -65.15 and a beta of 1.10.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced 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). Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.56 billion. On average, analysts expect that Brookfield Renewable Partners will post -1.88 EPS for the current year.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently added to or reduced their stakes in BEP. Kestra Advisory Services LLC grew its position in shares of Brookfield Renewable Partners by 9.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 9,944 shares of the utilities provider’s stock worth $280,000 after buying an additional 871 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Brookfield Renewable Partners by 72.8% during the third quarter. Chicago Partners Investment Group LLC now owns 11,095 shares of the utilities provider’s stock worth $317,000 after purchasing an additional 4,674 shares in the last quarter. Kelleher Financial Advisors increased its position in shares of Brookfield Renewable Partners by 54.1% during the third 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. MADDEN SECURITIES Corp acquired a new position in shares of Brookfield Renewable Partners during the third quarter worth $60,000. Finally, Apollon Wealth Management LLC lifted its holdings in shares of Brookfield Renewable Partners by 3.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 17,928 shares of the utilities provider’s stock valued at $504,000 after purchasing an additional 574 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.