Brookfield Renewable Partners L.P. (BEP) to Issue Quarterly Dividend of $0.36 on September 27th

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Friday, August 2nd, NASDAQ reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.355 per share by the utilities provider on Friday, September 27th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date is Friday, August 30th.

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 -3,550.0% meaning 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 $0.09 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 1,577.8%.

Brookfield Renewable Partners Trading Up 0.2 %

Shares of NYSE:BEP opened at $25.05 on Wednesday. The company has a 50 day moving average of $24.80 and a 200-day moving average of $24.42. The firm has a market cap of $7.14 billion, a P/E ratio of -54.46 and a beta of 0.92. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $28.81. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company posted ($0.10) earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. As a group, analysts anticipate that Brookfield Renewable Partners will post -0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BEP has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. CIBC upped their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Finally, National Bankshares upped their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average price target of $31.82.

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.