Brookfield Renewable (TSE:BEPC) Stock Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Brookfield Renewable shares rose 5%, trading above their 50-day moving average of C$42.02 and reaching as high as C$42.98 before closing at C$42.70 on volume of 679,415 shares.
• Desjardins raised its price target from C$48 to C$49 while maintaining a “Hold” rating; the stock has a consensus “Hold” rating and a C$49 consensus target.
• The company reported quarterly revenue of C$1.69 billion and a loss of C$2.95 per share, alongside a negative net margin of 110.51%; analysts expect full-year EPS of 2.85.

Brookfield Renewable Co. (TSE:BEPC - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of C$42.02 and traded as high as C$42.98. Brookfield Renewable shares last traded at C$42.70, with a volume of 679,415 shares traded.

Analyst Ratings Changes

Separately, Desjardins boosted their target price on shares of Brookfield Renewable from C$48.00 to C$49.00 and gave the company a "hold" rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Brookfield Renewable currently has a consensus rating of "Hold" and a consensus target price of C$49.00.

Brookfield Renewable Stock Up 5.0%

The company has a current ratio of 0.40, a quick ratio of 0.18 and a debt-to-equity ratio of -464.91. The stock has a market cap of C$7.93 billion, a P/E ratio of -2.01, a PEG ratio of 0.84 and a beta of 1.10. The company's 50 day moving average price is C$42.02 and its two-hundred day moving average price is C$50.40.

Brookfield Renewable (TSE:BEPC - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported C($2.95) earnings per share (EPS) for the quarter. Brookfield Renewable had a negative net margin of 110.51% and a positive return on equity of 257.80%. The business had revenue of C$1.69 billion for the quarter. Equities analysts forecast that Brookfield Renewable Co. will post 2.85 earnings per share for the current year.

About Brookfield Renewable

Brookfield operates Brookfield Renewable Partners (NYSE: BEP, BEPC TSX: BEP.UN, BEPC), one of the world's largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio consists of hydroelectric, wind, utility-scale solar and storage facilities and our sustainable solutions assets include our investment in a leading global nuclear services business and a portfolio of investments in carbon capture and storage capacity, agricultural renewable natural gas, materials recycling and eFuels manufacturing capacity, among others.

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