Brookfield Renewable Partners (TSE:BEP.UN) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Brookfield Renewable Partners stock has recently exceeded its 200-day moving average, trading at C$35.65 after reaching a high of C$37.58.
• Desjardins has increased its price target for the company from C$40.00 to C$42.00 and maintains a "hold" rating.
• The firm announced a quarterly dividend of $0.373 per share, representing a 4.2% yield, despite a significant negative dividend payout ratio.

Brookfield Renewable Partners LP (TSE:BEP.UN - Get Free Report) NYSE: BEP passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$32.90 and traded as high as C$37.58. Brookfield Renewable Partners shares last traded at C$35.65, with a volume of 547,276 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Desjardins raised 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 note on Wednesday, July 16th.

Brookfield Renewable Partners Stock Performance

The company has a debt-to-equity ratio of 107.80, a current ratio of 0.52 and a quick ratio of 0.45. The company has a market capitalization of C$10.16 billion, a price-to-earnings ratio of -40.98, a PEG ratio of 8.53 and a beta of 0.89. The stock has a 50 day simple moving average of C$35.32 and a two-hundred day simple moving average of C$32.90.

Brookfield Renewable Partners Announces Dividend

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 paid a $0.373 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a yield of 4.2%. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -219.54%.

Insiders Place Their Bets

In other news, Senior Officer Nancy Patricia Dorn acquired 2,470 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were bought at an average price 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.

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