Brookfield Renewable Partners (TSE:BEP.UN) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Brookfield Renewable Partners shares have recently crossed above their 200-day moving average, closing at C$34.36 with significant trading volume.
• An analyst from Desjardins raised the price target for the stock from C$40.00 to C$42.00, maintaining a "hold" rating.
• The company declared a quarterly dividend of $0.373, which translates to an annual yield of 4.3%, with the next payout scheduled for September 30th.

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 Friday . The stock has a 200-day moving average of C$33.71 and traded as high as C$35.69. Brookfield Renewable Partners shares last traded at C$34.36, with a volume of 473,939 shares traded.

Wall Street Analysts Forecast Growth

Separately, Desjardins upped their price target on shares of 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.com, the stock currently has an average rating of "Hold" and an average price target of C$42.00.

Brookfield Renewable Partners Trading Down 2.7%

The firm's 50-day simple moving average is C$35.43 and its 200-day simple moving average is C$33.72. 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 firm has a market capitalization of C$9.75 billion, a PE ratio of -35.79, a price-to-earnings-growth ratio of 8.53 and a beta of 1.24.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio is presently -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.