Brookfield Renewable Partners L.P. (NYSE:BEP) to Issue $0.36 Quarterly Dividend

Brookfield Renewable Partners L.P. (NYSE:BEPGet Free Report) (TSE:BEP) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.355 per share by the utilities provider on Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Friday, November 29th.

Brookfield Renewable Partners has raised its dividend payment by an average of 1.2% per year over the last three years. Brookfield Renewable Partners has a payout ratio of 244.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Brookfield Renewable Partners to earn ($0.36) per share next year, which means the company may not be able to cover its $1.42 annual dividend with an expected future payout ratio of -394.4%.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $26.34 on Thursday. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of -32.12 and a beta of 0.95. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The company’s 50 day moving average is $26.57 and its 200 day moving average is $25.91.

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) last released its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same period in the previous year, the firm posted ($0.14) earnings per share. On average, sell-side analysts anticipate that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Analysts Set New Price Targets

BEP has been the subject of several analyst reports. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. CIBC upped their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Finally, UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and an average price target of $31.78.

View Our Latest Analysis on BEP

About Brookfield Renewable Partners

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Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.

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Dividend History for Brookfield Renewable Partners (NYSE:BEP)

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