Brookfield Renewable Partners (NYSE:BEP) Stock Price Breaks Below 200-Day Moving Average - Time to Sell?

Key Points

• Brookfield Renewable Partners fell below its 200-day moving average, trading as low as $27.45 versus the $33.14 average, signaling recent technical weakness.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $38.14, well above the latest price near $27.97.
• The company reported a quarterly EPS loss of $0.37, slightly missing estimates, while revenue exceeded expectations; it also pays an annualized $1.57 dividend, yielding approximately 5.6%.

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $33.14 and traded as low as $27.45. Brookfield Renewable Partners shares last traded at $27.9680, with a volume of 796,821 shares changing hands.

Analysts Set New Price Targets

BEP has been the subject of a number of analyst reports. Barclays set a $30.00 target price on shares of Brookfield Renewable Partners and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. National Bank Financial reduced their price target on Brookfield Renewable Partners from $39.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 5th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and set a $41.00 price objective on shares of Brookfield Renewable Partners in a research note on Friday, July 17th. BMO Capital Markets set a $41.00 price objective on Brookfield Renewable Partners in a report on Monday, August 17th. Finally, UBS Group reissued a "buy" rating and issued a $40.00 target price (up from $39.00) on shares of Brookfield Renewable Partners in a research note on Friday, June 12th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.14.

Brookfield Renewable Partners Stock Performance

The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.87. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of -60.80 and a beta of 1.10. The stock's fifty day moving average is $31.70 and its 200-day moving average is $33.14.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, July 31st. The utilities provider reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.56 billion. Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. On average, analysts forecast that Brookfield Renewable Partners L.P. will post -1.87 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were given a $0.3920 dividend. The ex-dividend date was Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.6%. Brookfield Renewable Partners's dividend payout ratio is currently -341.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in shares of Brookfield Renewable Partners by 413.2% in the first quarter. Bank of America Corp DE now owns 973,260 shares of the utilities provider's stock valued at $31,767,000 after buying an additional 783,620 shares during the period. Groupe la Francaise raised its holdings in shares of Brookfield Renewable Partners by 194.5% during the first quarter. Groupe la Francaise now owns 159,894 shares of the utilities provider's stock worth $5,214,000 after acquiring an additional 105,599 shares during the period. Bank of Nova Scotia raised its holdings in shares of Brookfield Renewable Partners by 11.0% during the first quarter. Bank of Nova Scotia now owns 1,148,128 shares of the utilities provider's stock worth $37,444,000 after acquiring an additional 114,127 shares during the period. State of Wisconsin Investment Board lifted its position in Brookfield Renewable Partners by 128.0% in the 4th quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider's stock valued at $131,265,000 after acquiring an additional 2,732,542 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in Brookfield Renewable Partners by 1.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,072,131 shares of the utilities provider's stock valued at $36,939,000 after acquiring an additional 19,957 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a renewable power and decarbonization solutions company that develops, owns, and operates clean energy assets. Its portfolio includes hydroelectric, wind, utility-scale solar, distributed energy, and energy storage facilities.

The company also provides sustainable solutions to businesses and other organizations, including renewable power, renewable natural gas, carbon capture, and other services intended to support emissions reduction and energy transition goals.

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