Brookfield Renewable Co. (NYSE:BEPC) Increases Dividend to $0.37 Per Share

Brookfield Renewable Co. (NYSE:BEPC) declared a quarterly dividend on Friday, January 31st,NASDAQ Dividends reports. Investors of record on Friday, February 28th will be given a dividend of 0.373 per share on Monday, March 31st. This represents a $1.49 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36.

Brookfield Renewable has raised its dividend by an average of 13.5% annually over the last three years. Brookfield Renewable has a payout ratio of -258.2% indicating that 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 to earn ($1.62) 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 -87.7%.

Brookfield Renewable Stock Up 4.8 %

BEPC stock traded up $1.23 during mid-day trading on Friday, reaching $26.74. The company had a trading volume of 1,653,058 shares, compared to its average volume of 1,075,675. Brookfield Renewable has a fifty-two week low of $21.35 and a fifty-two week high of $35.14. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -32.61 and a beta of 1.23. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a fifty day simple moving average of $28.24 and a 200 day simple moving average of $29.33.

Brookfield Renewable (NYSE:BEPC) last released its quarterly earnings data on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. Analysts forecast that Brookfield Renewable will post -1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their price target on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd.

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.