Brookfield Renewable Partners (TSE:BEP.UN) Hits New 1-Year High - Time to Buy?

Key Points

• Brookfield Renewable Partners shares recently reached a new 52-week high of C$50.58, reflecting strong trading activity with a volume of 122,253 shares.
• Desjardins has raised its price objective for Brookfield Renewable from C$40.00 to C$42.00, while maintaining a "hold" rating on the stock.
• The company also declared a quarterly dividend of $0.373 per share, yielding approximately 3.95%, despite a notably high dividend payout ratio of -219.54%.

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$50.58 and last traded at C$37.20, with a volume of 122253 shares trading hands. The stock had previously closed at C$37.47.

Wall Street Analysts Forecast Growth

Separately, Desjardins upped their price objective on 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.

Brookfield Renewable Partners Stock Performance

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 firm has a market cap of C$10.18 billion, a price-to-earnings ratio of -41.07, a price-to-earnings-growth ratio of 8.53 and a beta of 0.89. The stock has a fifty day moving average price of C$35.26 and a 200 day moving average price of C$32.87.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were issued a dividend of $0.373 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.2%. Brookfield Renewable Partners's dividend payout ratio is currently -219.54%.

Insider Activity at Brookfield Renewable Partners

In related news, Senior Officer Nancy Patricia Dorn acquired 2,470 shares of the stock in a transaction dated Tuesday, May 20th. The shares were acquired at an average price of C$42.52 per share, with a total value of C$105,028.80.

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.