Brookfield Renewable Partners (TSE:BEP.UN) Reaches New 52-Week High - Here's Why

Key Points

• Brookfield Renewable Partners (TSE:BEP.UN) reached a new 52-week high of C$40.95, signifying a positive trend in its stock performance.
• Desjardins has upgraded the price target for Brookfield from C$40.00 to C$42.00 while maintaining a "hold" rating for the stock.
• The company recently announced a quarterly dividend of $0.373 per share, translating to an annualized yield of 3.7%, although it currently has a payout ratio of -151.67%.

Brookfield Renewable Partners LP (TSE:BEP.UN - Get Free Report) NYSE: BEP's share price hit a new 52-week high on Monday . The stock traded as high as C$40.95 and last traded at C$40.95, with a volume of 90621 shares trading hands. The stock had previously closed at C$39.99.

Wall Street Analysts Forecast Growth

Separately, Desjardins lifted their price target on shares of Brookfield Renewable Partners from C$40.00 to C$42.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$42.00.

Brookfield Renewable Partners Trading Up 1.8%

The firm has a 50-day moving average of C$35.72 and a 200 day moving average of C$34.37. The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 107.80. The stock has a market capitalization of C$11.56 billion, a price-to-earnings ratio of -42.42, a PEG ratio of 8.53 and a beta of 1.15.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 30th were paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, August 29th. Brookfield Renewable Partners's payout ratio is currently -151.67%.

About Brookfield Renewable Partners

Brookfield Renewable is a globally diversified, multitechnology owner and operator of clean energy assets. The company's portfolio consists of hydroelectric, wind, solar, and storage facilities in North America, South America, Europe, and Asia, and totals approximately 21 gigawatts of installed capacity.

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