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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred 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 traded.

Analyst Ratings Changes

A number of brokerages recently commented on BEP. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, September 21st. National Bank Financial set a $38.00 target price on shares of Brookfield Renewable Partners and gave the stock an “outperform” rating in a research report on Thursday. UBS Group reiterated a “buy” rating and issued a $34.00 target price (down from $40.00) on shares of Brookfield Renewable Partners in a research report on Thursday. Zacks Research raised shares of Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. Finally, BMO Capital Markets set a $41.00 price target on shares of Brookfield Renewable Partners in a report on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Renewable Partners has an average rating of “Moderate Buy” and an average target price of $37.79.

Brookfield Renewable Partners Trading Up 1.0%

The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of -61.80 and a beta of 1.10. The company has a fifty day moving average price of $31.62 and a 200-day moving average price of $33.12. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.87.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data 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 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, equities research analysts predict that Brookfield Renewable Partners L.P. will post -1.87 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were given a $0.3920 dividend. This represents a $1.57 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Monday, August 31st. Brookfield Renewable Partners’s payout ratio is currently -341.30%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BEP. Wellington Altus USA Inc. boosted its position in Brookfield Renewable Partners by 600.0% during the second quarter. Wellington Altus USA Inc. now owns 3,500 shares of the utilities provider’s stock worth $114,000 after purchasing an additional 3,000 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Brookfield Renewable Partners in the second quarter valued at approximately $82,000. Corient Private Wealth LP bought a new position in shares of Brookfield Renewable Partners in the second quarter valued at approximately $250,000. TD Waterhouse Canada Inc. lifted its stake in shares of Brookfield Renewable Partners by 1.9% in the second quarter. TD Waterhouse Canada Inc. now owns 1,072,131 shares of the utilities provider’s stock worth $36,939,000 after buying an additional 19,957 shares during the last quarter. Finally, First Bancorp Inc ME acquired a new stake in shares of Brookfield Renewable Partners in the second quarter worth $71,000. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a renewable power and energy transition company that owns and operates a diversified portfolio of clean energy assets. Its main activities include generating electricity from hydroelectric, wind and solar facilities, as well as providing energy storage and other decarbonization solutions.

The company serves electricity markets and commercial, industrial and utility customers across North America, South America, Europe and the Asia-Pacific region. In addition to operating renewable power facilities, Brookfield Renewable develops new projects and invests in businesses supporting the transition to lower-carbon energy, including distributed energy and sustainable solutions.

Brookfield Renewable traces its origins to Brookfield Asset Management’s renewable power operations and became publicly listed as Brookfield Renewable Energy Partners in 2011.