Brookfield Renewable Partners (NYSE:BEP) Announces Earnings Results

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) released its quarterly earnings results on Friday. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41), Zacks reports. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) earnings per share.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock traded down $0.77 during midday trading on Monday, reaching $23.29. The company had a trading volume of 406,889 shares, compared to its average volume of 483,226. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $28.81. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of -51.39 and a beta of 0.92. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $25.66 and a 200 day simple moving average of $24.56.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 6.10%. The ex-dividend date is Friday, August 30th. Brookfield Renewable Partners’s payout ratio is presently -308.70%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BEP. JPMorgan Chase & Co. increased their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. TD Securities raised their price objective on Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. National Bankshares increased their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Scotiabank raised their price objective on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, June 12th. Finally, Raymond James reduced their price target on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average target price of $31.42.

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.