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

Key Points

• Brookfield Renewable Partners’ stock moved above its 200-day moving average, trading as high as C$46.12 and last changing hands at C$45.75, suggesting a short-term technical improvement.
• Analyst sentiment remains mixed, with Desjardins raising its price target from C$45 to C$48 while keeping a hold rating; the broader consensus is a “Moderate Buy.”
• The company recently paid a quarterly dividend of $0.392 per share, equal to an annualized yield of about 3.4%, even as its latest earnings showed a loss of C$0.56 per share.

Brookfield Renewable Partners LP (TSE:BEP.UN - Get Free Report) NYSE: BEP's stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$44.64 and traded as high as C$46.12. Brookfield Renewable Partners shares last traded at C$45.75, with a volume of 323,710 shares trading hands.

Analysts Set New Price Targets

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

Brookfield Renewable Partners Price Performance

The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 107.80. The company has a market cap of C$13.87 billion, a P/E ratio of -152.50, a PEG ratio of 8.53 and a beta of 1.21. The business's fifty day moving average is C$48.65 and its 200 day moving average is C$44.64.

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

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.392 per share. The ex-dividend date was Friday, May 29th. This represents a $1.57 annualized dividend and a dividend yield of 3.4%. Brookfield Renewable Partners's dividend payout ratio is presently -503.67%.

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. 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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