Brookfield Renewable Partners L.P. (NYSE:BEP) Declares Quarterly Dividend of $0.36

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Friday, August 2nd, NASDAQ reports. Investors of record on Friday, August 30th will be paid a dividend of 0.355 per share by the utilities provider on Friday, September 27th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Friday, August 30th.

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 -417.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Brookfield Renewable Partners to earn $0.09 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 1,577.8%.

Brookfield Renewable Partners Stock Down 0.5 %

Shares of NYSE:BEP opened at $24.06 on Friday. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $28.81. The company has a 50 day moving average of $25.66 and a 200-day moving average of $24.57. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of -52.30 and a beta of 0.92.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.24). Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. The business had revenue of $875.00 million for the quarter, compared to analyst estimates of $828.39 million. On average, sell-side analysts forecast that Brookfield Renewable Partners will post -0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

BEP has been the topic of several recent analyst reports. National Bankshares lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. CIBC lifted their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Scotiabank lifted their price target on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, June 12th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.42.

Brookfield Renewable Partners Company Profile

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.