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

Brookfield Renewable Partners logo with Utilities background

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.
  • Five stocks we like better than Brookfield Renewable Partners.

Brookfield Renewable Partners LP (TSE:BEP.UN - Get Free Report) NYSE: BEP's stock price crossed 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.

Analysts Set New Price Targets

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 research report on Wednesday, July 16th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Brookfield Renewable Partners presently has an average rating of "Hold" and an average price target of C$42.00.

Check Out Our Latest Research Report on Brookfield Renewable Partners

Brookfield Renewable Partners Trading Up 0.1%

The stock has a market capitalization of C$9.78 billion, a PE ratio of -35.88, a price-to-earnings-growth ratio of 8.53 and a beta of 1.24. The company has a debt-to-equity ratio of 107.80, a quick ratio of 0.45 and a current ratio of 0.52. The business's 50-day moving average is C$35.52 and its two-hundred day moving average is C$33.56.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th will be paid a $0.373 dividend. The ex-dividend date of this dividend 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

(Get Free Report)

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.

Further Reading

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