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

Key Points

• Brookfield Renewable Partners shares have surpassed their 200-day moving average, trading at C$37.37 against a moving average of C$32.67.
• Analysts at Desjardins have increased their price target on the stock from C$40.00 to C$42.00, maintaining a "hold" rating.
• Brookfield recently announced a quarterly dividend of $0.373, which equates to an annual yield of 3.98%, despite a dividend payout ratio of -219.54%.

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 Thursday . The stock has a 200-day moving average of C$32.67 and traded as high as C$37.75. Brookfield Renewable Partners shares last traded at C$37.37, with a volume of 133,957 shares traded.

Wall Street Analyst Weigh In

Separately, Desjardins lifted their target price on shares of Brookfield Renewable Partners from C$40.00 to C$42.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th.

Brookfield Renewable Partners Price Performance

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 firm has a market cap of C$10.62 billion, a price-to-earnings ratio of -42.80, a price-to-earnings-growth ratio of 8.53 and a beta of 0.89. The company's fifty day moving average is C$34.91 and its two-hundred day moving average is C$32.73.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were paid a $0.373 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.01%. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -219.54%.

Insider Activity

In other Brookfield Renewable Partners news, Senior Officer Nancy Patricia Dorn acquired 2,470 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were purchased at an average price of C$42.52 per share, for a total transaction 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.