Brookfield Renewable Partners (NYSE:BEP) Announces Quarterly Earnings Results, Misses Estimates By $0.28 EPS

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) issued its earnings results on Friday. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28), Zacks reports. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. During the same quarter in the previous year, the company earned ($0.14) EPS.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP traded down $0.52 during midday trading on Monday, hitting $25.90. 304,894 shares of the company’s stock were exchanged, compared to its average volume of 478,132. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The stock’s 50 day moving average price is $26.52 and its 200-day moving average price is $25.84.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s payout ratio is -173.17%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BEP shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. National Bankshares raised their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, CIBC upped their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.