Brookfield Renewable Co. (NYSE:BEPC) to Issue $0.36 Quarterly Dividend

Brookfield Renewable Co. (NYSE:BEPC) declared a quarterly dividend on Thursday, August 8th, Wall Street Journal reports. Investors of record on Friday, August 30th will be given a dividend of 0.355 per share on Friday, September 27th. This represents a $1.42 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Friday, August 30th.

Brookfield Renewable has raised its dividend payment by an average of 32.7% per year over the last three years. Brookfield Renewable has a payout ratio of -208.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Brookfield Renewable to earn ($1.11) 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 -127.9%.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $28.81 on Wednesday. The business’s 50-day moving average price is $28.65 and its 200 day moving average price is $27.31. The firm has a market cap of $5.18 billion, a P/E ratio of -62.63 and a beta of 1.18. Brookfield Renewable has a 52-week low of $21.35 and a 52-week high of $32.83. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.82.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Brookfield Renewable had a return on equity of 2.19% and a net margin of 7.10%. As a group, sell-side analysts predict that Brookfield Renewable will post -0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price objective on Brookfield Renewable from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th.

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.