Brookfield Renewable Partners LP (NYSE:BEP) price on Friday, February 07, fall -0.93% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $22.44.
A look at the stock’s price movement, the close in the last trading session was $22.65, moving within a range at $22.3 and $23.13. The beta value (5-Year monthly) was 0.895. Turning to its 52-week performance, $29.56 and $19.92 were the 52-week high and 52-week low respectively. Overall, BEP moved -4.96% over the past month.
Brookfield Renewable Partners LP’s market cap currently stands at around $6.40 billion, with investors looking forward to this quarter’s earnings report slated for in March. The company has a Forward Dividend ratio of 1.42, with its dividend yield at 6.33%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 1.73B for the company’s revenue for the quarter, with a low and high estimate of 1.56B and 1.89B respectively. The average forecast suggests up to a 15.67% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 6.74B, representing a 14.75% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BEP is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 6 recommend BEP as a Buy and 1 give it an Overweight rating. Meanwhile, 1 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BEP’s current price about 5.18% and -2.05% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.06, while 7-day volatility ratio is 3.47% and 3.85% in the 30-day chart. Further, Brookfield Renewable Partners LP (BEP) has a beta value of 1.07, and an average true range (ATR) of 0.81. Analysts have given the company’s stock an average 52-week price target of $31, forecast between a low of $27 and high of $31. Looking at the price targets, the low is -20.32% off current price level while to achieve the yearly target high, price needs to move -38.15%. Nonetheless, investors will most likely welcome a -38.15% jump to $31 which is the analysts’ median price.
If we refocus on Brookfield Renewable Partners LP (NYSE:BEP), historical trading data shows that trading volumes averaged 1.09 over the past 10 days and 725.98K over the past 3 months. The company’s latest data on shares outstanding shows there are 285.18 million shares.
The 3.41% of Brookfield Renewable Partners LP’s shares are in the hands of company insiders while institutional holders own 64.04% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 1.31 million on 2025-01-15, giving us a short ratio of 2.19. The data shows that as of 2025-01-15 short interest in Brookfield Renewable Partners LP (BEP) stood at 57.99999999999999 of shares outstanding, with shares short rising to 1.02 million registered in 2024-12-13. Current price change has pushed the stock -1.54% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BEP stock continues to rise going into the next quarter.
