Brookfield Renewable Partners L.P. (NYSE:BEP) Increases Dividend to $0.39 Per Share

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) declared a quarterly dividend on Friday, January 30th. Investors of record on Friday, February 27th will be given a dividend of 0.392 per share by the utilities provider on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Friday, February 27th. This is a 5.1% increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37.

Brookfield Renewable Partners has decreased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Brookfield Renewable Partners has a payout ratio of -15,600.0% 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 analysts expect Brookfield Renewable Partners to earn ($0.86) per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of -181.4%.

Brookfield Renewable Partners Stock Performance

BEP traded up $0.27 during trading on Wednesday, reaching $32.37. 103,543 shares of the company were exchanged, compared to its average volume of 574,021. The stock has a market cap of $9.19 billion, a P/E ratio of -124.20 and a beta of 1.14. The firm has a 50 day moving average of $28.89 and a 200 day moving average of $27.85. The company has a current ratio of 0.19, a quick ratio of 0.58 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners has a 52 week low of $19.29 and a 52 week high of $32.78.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.88. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%.The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. On average, sell-side analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BROOKFIELD Corp ON lifted its holdings in Brookfield Renewable Partners by 9.4% in the 4th quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after acquiring an additional 6,967,670 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brookfield Renewable Partners by 1.8% in the 4th quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock worth $277,930,000 after purchasing an additional 177,599 shares in the last quarter. Bank of Montreal Can lifted its stake in Brookfield Renewable Partners by 20.3% during the fourth quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock valued at $226,859,000 after purchasing an additional 1,415,989 shares during the last quarter. State of Wisconsin Investment Board boosted its holdings in Brookfield Renewable Partners by 128.0% during the fourth quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider’s stock worth $131,265,000 after buying an additional 2,732,542 shares in the last quarter. Finally, Morgan Stanley grew its position in Brookfield Renewable Partners by 41.9% in the fourth quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock worth $108,663,000 after buying an additional 1,189,130 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.