Brookfield Renewable Partners (NYSE:BEP) Announces Quarterly Earnings Results

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) issued its quarterly earnings results on Friday. The utilities provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28), Zacks reports. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. During the same period in the previous year, the company posted ($0.14) EPS.

Brookfield Renewable Partners Stock Down 2.0 %

Brookfield Renewable Partners stock traded down $0.52 during midday trading on Monday, hitting $25.90. 304,894 shares of the stock were exchanged, compared to its average volume of 478,132. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The business’s 50-day moving average price is $26.52 and its 200-day moving average price is $25.84.

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s payout ratio is currently -173.17%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. JPMorgan Chase & Co. decreased their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. National Bankshares upped their target price on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, CIBC increased their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.78.

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.