Brookfield Renewable Partners L.P. Plans 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 yield of 5.52%. The ex-dividend date is Friday, November 29th.

Brookfield Renewable Partners has raised its dividend payment by an average of 1.2% annually over the last three years. Brookfield Renewable Partners has a dividend payout ratio of 244.8% 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 research 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 Stock Up 0.1 %

Shares of BEP opened at $25.72 on Wednesday. The stock has a 50 day moving average price of $26.57 and a 200 day moving average price of $25.91. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of -31.37 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. Equities research analysts forecast that Brookfield Renewable Partners will post -0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BEP has been the subject of several recent research reports. 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. JPMorgan Chase & Co. cut their target price on 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. CIBC boosted their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and an average target price of $31.78.

About Brookfield Renewable Partners

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.