Brookfield Renewable Partners (TSE:BEP.UN) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Brookfield Renewable Partners LP (TSE:BEP.UN) (NYSE:BEP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$41.50 and traded as high as C$46.73. Brookfield Renewable Partners shares last traded at C$45.35, with a volume of 395,938 shares.

Wall Street Analyst Weigh In

Separately, Desjardins upped their price target on Brookfield Renewable Partners from C$45.00 to C$48.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average target price of C$41.50.

Brookfield Renewable Partners Stock Performance

The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 107.80. The firm has a 50-day moving average of C$44.48 and a 200-day moving average of C$41.50. The stock has a market capitalization of C$13.88 billion, a price-to-earnings ratio of -181.40, a P/E/G ratio of 8.53 and a beta of 0.94.

Brookfield Renewable Partners (TSE:BEP.UN) (NYSE:BEP) last released its earnings results on Saturday, May 2nd. The company reported C($0.56) earnings per share (EPS) for the quarter. Brookfield Renewable Partners had a negative net margin of 4.20% and a positive return on equity of 0.46%. The firm had revenue of C$2.10 billion during the quarter. As a group, sell-side analysts predict that Brookfield Renewable Partners LP will post 0.1012093 earnings per share for the current year.

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. Brookfield Renewable invests in assets directly, as well as with institutional partners, joint venture partners, and through other arrangements. The company offers two separate listings for investors: Brookfield Renewable Partners LP and Brookfield Renewable Corporation.