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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) declared a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Shareholders 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 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, November 29th.

Brookfield Renewable Partners has increased 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. 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 Up 2.4 %

BEP stock opened at $26.34 on Thursday. The company has a market capitalization of $7.51 billion, a P/E ratio of -32.12 and a beta of 0.95. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The firm’s fifty day simple moving average is $26.57 and its 200-day simple moving average is $25.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted 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 business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same period in the previous year, the company posted ($0.14) earnings per share. As a group, equities research analysts forecast that Brookfield Renewable Partners will post -0.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

About Brookfield Renewable Partners

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.