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

Key Points

• Technical breakout: Brookfield Renewable passed above its 200‑day moving average (200‑day = C$41.50), trading as high as C$46.73 and last at C$45.35 on volume of 395,938 shares.
• Analyst view: Desjardins raised its price target from C$45.00 to C$48.00 and gave a "hold," while the consensus rating is a Moderate Buy with an average target of C$41.50.
• Mixed fundamentals: The company reported quarterly EPS of C($0.56) on C$2.10 billion revenue, has a negative net margin (‑4.2%), a negative P/E (‑181.4), and high leverage (debt‑to‑equity 107.8) despite ~21 GW of global renewable capacity.

Brookfield Renewable Partners LP (TSE:BEP.UN - Get Free Report) NYSE: BEP passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$41.50 and traded as high as C$46.73. Brookfield Renewable Partners shares last traded at C$45.35, with a volume of 395,938 shares trading hands.

Analysts Set New Price Targets

Separately, Desjardins boosted their price target on Brookfield Renewable Partners from C$45.00 to C$48.00 and gave the company a "hold" rating in a report on Friday, April 24th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$41.50.

Brookfield Renewable Partners Stock Up 1.2%

The company has a market cap of C$13.88 billion, a P/E ratio of -181.40, a P/E/G ratio of 8.53 and a beta of 0.94. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 107.80. The business's 50 day moving average is C$44.48 and its 200 day moving average is C$41.50.

Brookfield Renewable Partners (TSE:BEP.UN - Get Free Report) NYSE: BEP last issued its quarterly earnings data on Saturday, May 2nd. The company reported C($0.56) EPS for the quarter. The business had revenue of C$2.10 billion during the quarter. Brookfield Renewable Partners had a positive return on equity of 0.46% and a negative net margin of 4.20%. As a group, equities analysts anticipate that Brookfield Renewable Partners LP will post 0.1012093 earnings per share for the current fiscal year.

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. Brookfield Renewable invests in assets directly, as well as with institutional partners, joint venture partners, and through other arrangements. The company offers two separate listings for investors: Brookfield Renewable Partners LP and Brookfield Renewable Corporation.

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