Brookfield Renewable Partners (TSE:BEP.UN) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Brookfield Renewable Partners shares recently crossed above their 200-day moving average, trading at C$34.62 with a peak at C$35.25.
• Analysts have raised their price target from C$40.00 to C$42.00, with an average rating of "Hold" for the stock.
• The company announced a quarterly dividend of $0.373 with a yield of 4.3%, following a negative payout ratio of -151.67%.

Brookfield Renewable Partners LP (TSE:BEP.UN - Get Free Report) NYSE: BEP passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$33.60 and traded as high as C$35.25. Brookfield Renewable Partners shares last traded at C$34.62, with a volume of 218,155 shares traded.

Wall Street Analyst Weigh In

Separately, Desjardins increased their price objective on Brookfield Renewable Partners from C$40.00 to C$42.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Brookfield Renewable Partners presently has a consensus rating of "Hold" and a consensus price target of C$42.00.

Brookfield Renewable Partners Trading Up 0.3%

The firm has a market cap of C$10.03 billion, a P/E ratio of -36.82, a price-to-earnings-growth ratio of 8.53 and a beta of 1.24. The company's fifty day moving average price is C$35.44 and its two-hundred day moving average price is C$33.65. The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 107.80.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable Partners's payout ratio is currently -151.67%.

Brookfield Renewable Partners Company Profile

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.