Brookfield Renewable Co. (NYSE:BEPC) Declares Dividend Increase – $0.37 Per Share

Brookfield Renewable Co. (NYSE:BEPC) declared a quarterly dividend on Friday, January 31st,NASDAQ Dividends reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.373 per share on Monday, March 31st. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36.

Brookfield Renewable has increased its dividend payment by an average of 13.5% annually over the last three years. Brookfield Renewable has a dividend payout ratio of -258.2% 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 to earn ($1.62) 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 -87.7%.

Brookfield Renewable Stock Performance

NYSE:BEPC traded up $1.23 during midday trading on Friday, reaching $26.74. The stock had a trading volume of 1,653,058 shares, compared to its average volume of 1,075,675. The stock has a market capitalization of $3.88 billion, a P/E ratio of -32.61 and a beta of 1.23. Brookfield Renewable has a 1-year low of $21.35 and a 1-year high of $35.14. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s fifty day simple moving average is $28.24 and its 200-day simple moving average is $29.34.

Brookfield Renewable (NYSE:BEPC) last released its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. On average, equities research analysts forecast that Brookfield Renewable will post -1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their target price on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.