Brookfield Renewable Partners LP (NYSE:BEP) price on Friday, June 13, rose 0.50% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $26.19.
A look at the stock’s price movement, the close in the last trading session was $26.06. Turning to its 52-week performance, $29.56 and $19.29 were the 52-week high and 52-week low respectively. Overall, BEP moved 10.79% over the past month.
Brookfield Renewable Partners LP’s market cap currently stands at around $7.44 billion, with investors looking forward to this quarter’s earnings report slated for in July. The company has a Forward Dividend ratio of 1.46, with its dividend yield at 5.56%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
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 6.92% and 13.11% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 67.30, while 7-day volatility ratio is 1.33% and 2.56% in the 30-day chart. Further, Brookfield Renewable Partners LP (BEP) has a beta value of 1.04, and an average true range (ATR) of 0.68. Analysts have given the company’s stock an average 52-week price target of $32, forecast between a low of $27 and high of $46.15335674. Looking at the price targets, the low is -3.09% off current price level while to achieve the yearly target high, price needs to move -76.23%. Nonetheless, investors will most likely welcome a -22.18% jump to $32 which is the analysts’ median price.
If we refocus on Brookfield Renewable Partners LP (NYSE:BEP), historical trading data shows that trading volumes averaged 615.43K over the past 3 months. The company’s latest data on shares outstanding shows there are 284.11 million shares.
The 3.61% of Brookfield Renewable Partners LP’s shares are in the hands of company insiders while institutional holders own 63.38% of the company’s shares. Current price change has pushed the stock 14.92% 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.
