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

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. The stock had previously closed at $20.69.

Wall Street Analyst Weigh In

BEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC increased their price objective 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. Scotiabank reduced their target price on shares of Brookfield Renewable Partners from $32.00 to $28.00 and set a “sector outperform” rating for the company in a research report on Thursday. Finally, UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners Stock Performance

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

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results 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). The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company posted ($0.14) EPS. On average, equities analysts anticipate that Brookfield Renewable Partners L.P. will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid 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 dividend payout ratio is presently -173.17%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors and hedge funds have recently made changes to their positions in BEP. Intact Investment Management Inc. bought a new stake in Brookfield Renewable Partners in the 3rd quarter worth about $42,331,000. Principal Financial Group Inc. boosted its stake 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 buying an additional 330,648 shares during the last quarter. Mirabella Financial Services LLP grew its holdings in shares of Brookfield Renewable Partners by 145.2% in the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after acquiring an additional 276,374 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Brookfield Renewable Partners during the third quarter valued at approximately $6,191,000. Finally, Toronto Dominion Bank lifted its holdings in Brookfield Renewable Partners by 11.1% during the third quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock worth $48,905,000 after acquiring an additional 173,882 shares during the period. Institutional investors and hedge funds own 63.16% 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, 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.