Brookfield Renewable Partners L.P. (NYSE:BEP) Announces $0.39 Quarterly Dividend

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) declared a quarterly dividend on Friday, May 1st. Stockholders of record on Friday, May 29th will be given a dividend of 0.392 per share by the utilities provider on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, May 29th.

Brookfield Renewable Partners has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. Brookfield Renewable Partners has a dividend payout ratio of -15,600.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brookfield Renewable Partners to earn ($0.83) 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 -188.0%.

Brookfield Renewable Partners Stock Performance

Shares of BEP traded up $0.22 during trading hours on Friday, reaching $33.33. 1,610,082 shares of the company traded hands, compared to its average volume of 748,146. The stock’s fifty day moving average is $32.40 and its 200 day moving average is $30.07. The stock has a market cap of $10.11 billion, a P/E ratio of -128.18 and a beta of 1.09. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.57. Brookfield Renewable Partners has a 1-year low of $22.17 and a 1-year high of $35.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.14). Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. Equities research analysts anticipate that Brookfield Renewable Partners will post -0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BEP has been the subject of several research reports. National Bank Financial raised their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Friday, March 27th. Morgan Stanley raised their price objective on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. JPMorgan Chase & Co. lifted their target price on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Zacks Research raised shares of Brookfield Renewable Partners from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.93.

Brookfield Renewable Partners Company Profile

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.