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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Investors of record on Friday, November 29th will be paid a dividend of 0.355 per share by the utilities provider on Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend is Friday, November 29th.

Brookfield Renewable Partners has raised its dividend by an average of 1.2% annually over the last three years. Brookfield Renewable Partners has a dividend payout ratio of 232.8% meaning 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 ($0.36) 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 Trading Up 0.8 %

BEP traded up $0.21 during trading on Friday, reaching $26.42. 319,960 shares of the stock traded hands, compared to its average volume of 478,930. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $7.53 billion, a PE ratio of -41.28 and a beta of 0.95. The stock’s 50-day moving average is $26.52 and its 200 day moving average is $25.78. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price target for the company from $24.00 to $31.00 in a research report on Monday, September 30th. National Bankshares lifted their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.78.

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.