Brookfield Renewable Partners (NYSE:BEP) Reaches New 1-Year Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BEP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC boosted their price target on Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $31.00 in a research report on Monday, September 30th. 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 report on Wednesday, December 18th. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.44.

Brookfield Renewable Partners Stock Down 3.2 %

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The company’s 50 day moving average price is $23.72 and its 200 day moving average price is $25.00. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of -24.43 and a beta of 0.95.

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

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.17%.

Institutional Trading of Brookfield Renewable Partners

Hedge funds have recently modified their holdings of the stock. Epiq Partners LLC lifted its stake in shares of Brookfield Renewable Partners by 1.4% in the 4th quarter. Epiq Partners LLC now owns 105,228 shares of the utilities provider’s stock valued at $2,398,000 after purchasing an additional 1,500 shares during the period. Arkadios Wealth Advisors raised its position in shares of Brookfield Renewable Partners by 442.3% in the fourth quarter. Arkadios Wealth Advisors now owns 52,399 shares of the utilities provider’s stock worth $1,194,000 after acquiring an additional 42,737 shares during the period. CCLA Investment Management boosted its stake in shares of Brookfield Renewable Partners by 1.9% during the 4th quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock worth $59,838,000 after acquiring an additional 49,553 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Brookfield Renewable Partners by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after acquiring an additional 330,648 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors 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.