Brookfield Renewable Partners L.P. (NYSE:BEP) Short Interest Update

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) and TSE: BEP saw a notable rise in short interest for the month of January. As of January 31st, the total short interest reached 1,790,000 shares, marking a significant increase of 36.6% from the 1,310,000 shares recorded on January 15th. Currently, approximately 0.7% of the company's shares are sold short. Based on an average daily trading volume of 728,600 shares, the days-to-cover ratio stands at 2.5 days.

Institutional Investors Weigh In On Brookfield Renewable Partners

A variety of large investors have adjusted their stakes in Brookfield Renewable Partners recently. CIBC Asset Management Inc. raised its stake by 23.8% during the fourth quarter, now holding 8,472,170 shares valued at $192,605,000 after acquiring an additional 1,628,524 shares. Principal Financial Group Inc. also increased its investment by 3.2%, owning 7,851,842 shares worth $178,943,000 following the purchase of an extra 246,163 shares. Moreover, the Bank of Montreal Can boosted its holdings by 4.7%, bringing its total to 7,059,557 shares valued at $160,585,000 after acquiring 315,272 shares. CIBC World Market Inc. increased its stake in Brookfield Renewable by 4.4%, owning 2,751,587 shares with a value of $62,647,000 after adding 116,593 shares. Finally, Scotia Capital Inc. grew its investment by 13.5%, now owning 2,715,043 shares valued at $61,433,000 after acquiring 323,619 shares during the last quarter. Overall, institutional investors hold 63.16% of the stock.

Brookfield Renewable Partners Stock Down 0.1 %

During midday trading on Friday, NYSE:BEP fell by $0.03, reaching a value of $22.37. The trading volume was 764,471 shares, compared to an average volume of 939,386 shares. The company has a market cap of $6.38 billion, a P/E ratio of -25.14, and a beta of 0.95. Its 50-day moving average is $22.38, while the 200-day moving average is $24.56. The debt-to-equity ratio is recorded at 0.93, with a current ratio of 0.25 and a quick ratio of 0.73. Over the past year, Brookfield Renewable Partners has experienced a low of $19.92 and a high of $29.56.

Brookfield Renewable Partners Increases Dividend

Recently, the company announced a quarterly dividend scheduled for payment on Monday, March 31st. Shareholders on record as of Friday, February 28th, will receive a dividend of $0.373, translating to an annualized dividend of $1.49 and a yield of 6.67%. This marks an increase from the previous quarterly dividend of $0.36. The ex-dividend date is also set for Friday, February 28th. The company's dividend payout ratio currently stands at -159.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently provided their views on BEP shares. StockNews.com downgraded Brookfield Renewable Partners from a "buy" to a "hold" rating in a report released on Wednesday. The Royal Bank of Canada maintained an "outperform" rating, setting a target price of $31.00. Scotiabank revised its price target from $28.00 to $29.00, also giving the stock an "outperform" rating. Similarly, JPMorgan Chase & Co. lowered their price objective from $30.00 to $28.00 while maintaining an "overweight" rating. Lastly, Wells Fargo & Company adjusted its price target down from $31.00 to $29.00 while keeping an "overweight" rating. Out of the analysts, one rated the stock as hold, eight as buy, and one as strong buy, leading to an average rating of "Buy" and a consensus price target of $30.50.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns and operates a range of renewable power generating facilities primarily located in North America, Colombia, and Brazil. The company generates electricity through various means including hydroelectric, wind, solar, and other renewable sources.

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