Brookfield Renewable Partners (NYSE:BEP) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $33.29 and traded as low as $31.98. Brookfield Renewable Partners shares last traded at $32.37, with a volume of 443,423 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. National Bank Financial dropped their price objective on shares of Brookfield Renewable Partners from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $36.00 target price on shares of Brookfield Renewable Partners in a research note on Tuesday, July 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Wednesday, June 24th. Zacks Research upgraded Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Finally, BMO Capital Markets set a $41.00 price objective on Brookfield Renewable Partners in a research note on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and an average target price of $38.14.

Brookfield Renewable Partners Stock Down 0.9%

The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of -70.67 and a beta of 1.11. The firm’s 50-day simple moving average is $33.43 and its two-hundred day simple moving average is $33.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.80 and a quick ratio of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, July 31st. The utilities provider reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. Sell-side analysts predict that Brookfield Renewable Partners L.P. will post -1.87 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, August 31st. Brookfield Renewable Partners’s payout ratio is currently -341.30%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several hedge funds have recently bought and sold shares of BEP. Envestnet Asset Management Inc. raised its position in shares of Brookfield Renewable Partners by 7.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock worth $264,000 after purchasing an additional 742 shares during the period. Allworth Financial LP grew its stake in Brookfield Renewable Partners by 9.5% during the 4th quarter. Allworth Financial LP now owns 8,645 shares of the utilities provider’s stock worth $233,000 after buying an additional 750 shares during the last quarter. Tacita Capital Inc increased its position in Brookfield Renewable Partners by 0.7% in the fourth quarter. Tacita Capital Inc now owns 119,101 shares of the utilities provider’s stock worth $3,220,000 after buying an additional 770 shares during the period. Kelleher Financial Advisors bought a new stake in Brookfield Renewable Partners in the third quarter valued at $26,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Brookfield Renewable Partners by 5.4% during the second quarter. Osaic Holdings Inc. now owns 23,468 shares of the utilities provider’s stock valued at $599,000 after acquiring an additional 1,212 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.