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

Key Points

• Brookfield Renewable Partners' stock price recently surpassed its 200-day moving average, closing at C$33.95 after reaching a high of C$34.50 during trading.
• Desjardins raised their target price for the stock from C$40.00 to C$42.00 and assigned a "hold" rating, aligning with the consensus average rating.
• The company announced a quarterly dividend of $0.373, representing a 4.4% yield, with a payout ratio of -151.67% indicating potential sustainability concerns.

Brookfield Renewable Partners LP (TSE:BEP.UN - Get Free Report) NYSE: BEP's share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$33.53 and traded as high as C$34.50. Brookfield Renewable Partners shares last traded at C$33.95, with a volume of 258,259 shares traded.

Analyst Upgrades and Downgrades

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

Brookfield Renewable Partners Stock Up 0.4%

The stock has a market capitalization of C$9.85 billion, a PE ratio of -36.16, a price-to-earnings-growth ratio of 8.53 and a beta of 1.24. The business's fifty day moving average price is C$35.51 and its two-hundred day moving average price is C$33.57. The company has a debt-to-equity ratio of 107.80, a current ratio of 0.52 and a quick ratio of 0.45.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 30th will be given a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a yield of 4.3%. 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.