BEP Stock Summary and Trading Ideas (Brookfield Renewable Partners LP | NYSE:BEP)

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 over 20 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.

Brookfield Renewable Partners LP trades on the NYSE stock market under the symbol BEP.

As of April 18, 2024, BEP stock price climbed to $20.58 with 641,481 million shares trading.

BEP has a beta of 0.81, meaning it tends to be less sensitive to market movements. BEP has a correlation of 0.09 to the broad based SPY ETF.

BEP has a market cap of $5.91 billion. This is considered a Mid Cap stock.

Last quarter Brookfield Renewable Partners LP reported $1 billion in Revenue and $.01 earnings per share. This beat revenue expectation by $253 million and exceeded earnings estimates by $.05.

In the last 3 years, BEP stock traded as high as $42.77 and as low as $19.92.

The top ETF exchange traded funds that BEP belongs to (by Net Assets): PID, QCLN, RNRG, YLDE, BNE.

BEP has underperformed the market in the last year with a price return of -29.6% while the SPY ETF gained +22.3%. BEP has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -16.8% and -8.9%, respectively, while the SPY returned +6.1% and -3.8%, respectively.

BEP support price is $19.87 and resistance is $20.64 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BEP stock will trade within this expected range on the day.