Brookfield Renewable Partners (TSE:BEP.UN) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Brookfield Renewable Partners stock has surpassed its 200-day moving average, reaching a high of C$34.37 during trading, with the last price at C$34.01.
• Desjardins has raised their price target for the company from C$40.00 to C$42.00, maintaining a "hold" rating.
• The company declared a quarterly dividend of $0.373 per share, translating to a 4.4% annual yield, with the ex-dividend date set for August 29th.

Brookfield Renewable Partners LP (TSE:BEP.UN - Get Free Report) NYSE: BEP's share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$33.16 and traded as high as C$34.37. Brookfield Renewable Partners shares last traded at C$34.01, with a volume of 225,203 shares changing hands.

Analysts Set New Price Targets

Separately, Desjardins increased their price target on Brookfield Renewable Partners from C$40.00 to C$42.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th.

Brookfield Renewable Partners Price Performance

The stock has a market capitalization of C$9.68 billion, a price-to-earnings ratio of -39.03, a price-to-earnings-growth ratio of 8.53 and a beta of 0.89. The company has a 50 day moving average of C$35.66 and a 200 day moving average of C$33.22. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 107.80.

Brookfield Renewable Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 annualized dividend and a yield of 4.4%. Brookfield Renewable Partners's dividend payout ratio is currently -219.54%.

Insider Buying and Selling at Brookfield Renewable Partners

In related news, Senior Officer Nancy Patricia Dorn bought 2,470 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was bought at an average price of C$42.52 per share, with a total value of C$105,028.80.

About Brookfield Renewable Partners

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.