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

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 two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Analysts Set New Price Targets

Separately, Desjardins upped their price objective on shares of 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.

Brookfield Renewable Partners Price Performance

The business's 50 day moving average price is C$35.61 and its two-hundred day moving average price is C$33.17. The stock has a market cap of C$9.75 billion, a P/E ratio of -39.30, a price-to-earnings-growth ratio of 8.53 and a beta of 0.89. The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 107.80.

Brookfield Renewable Partners Announces Dividend

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

Insider Buying and Selling

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

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.