Brookfield Renewable Partners L.P. (NYSE:BEP – Get Rating) (TSE:BEP) announced a quarterly dividend on Friday, August 5th, Zacks reports. Stockholders of record on Wednesday, August 31st will be given a dividend of 0.32 per share by the utilities provider on Thursday, September 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Tuesday, August 30th.
Brookfield Renewable Partners has a dividend payout ratio of 4,266.7% 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 $0.25 per share next year, which means the company may not be able to cover its $1.28 annual dividend with an expected future payout ratio of 512.0%.
Brookfield Renewable Partners Price Performance
Brookfield Renewable Partners stock opened at $39.25 on Friday. The company’s 50 day simple moving average is $35.66 and its 200-day simple moving average is $36.16. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of -63.31 and a beta of 0.71. Brookfield Renewable Partners has a 1 year low of $30.93 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.58 and a current ratio of 0.58.
Wall Street Analyst Weigh In
BEP has been the subject of a number of research reports. National Bankshares lifted their price objective on shares of Brookfield Renewable Partners from $31.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, May 9th. Raymond James set a $42.00 price objective on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a report on Monday, May 9th. Finally, TD Securities upgraded shares of Brookfield Renewable Partners from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Monday, May 9th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and a consensus target price of $42.67.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Brookfield Renewable Partners by 106.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,442,452 shares of the utilities provider’s stock valued at $100,311,000 after buying an additional 1,261,692 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Brookfield Renewable Partners by 104.5% in the 1st quarter. Invesco Ltd. now owns 769,973 shares of the utilities provider’s stock valued at $31,623,000 after buying an additional 393,499 shares in the last quarter. UBS Group AG boosted its holdings in shares of Brookfield Renewable Partners by 41.0% in the 1st quarter. UBS Group AG now owns 133,792 shares of the utilities provider’s stock valued at $5,495,000 after buying an additional 38,920 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Brookfield Renewable Partners by 402.2% in the 1st quarter. Mackenzie Financial Corp now owns 123,848 shares of the utilities provider’s stock valued at $5,091,000 after buying an additional 99,188 shares in the last quarter. Finally, Northern Trust Corp raised its position in Brookfield Renewable Partners by 1.8% in the 1st quarter. Northern Trust Corp now owns 82,828 shares of the utilities provider’s stock valued at $3,401,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 55.98% of the company’s stock.
About Brookfield Renewable Partners
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.
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