Brookfield Renewable Partners L.P. (NYSE:BEP) to Issue Quarterly Dividend of $0.36

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Friday, May 31st will be given a dividend of 0.355 per share by the utilities provider on Friday, June 28th. This represents a $1.42 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Friday, May 31st.

Brookfield Renewable Partners has raised its dividend payment by an average of 1.2% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Brookfield Renewable Partners has a dividend payout ratio of -373.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Shares of BEP stock traded up $0.87 during trading on Monday, hitting $26.65. The company had a trading volume of 824,708 shares, compared to its average volume of 527,270. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85. The stock’s 50-day moving average is $22.43 and its two-hundred day moving average is $23.94. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of -57.91 and a beta of 0.83. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $32.76.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.31%. Brookfield Renewable Partners’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) earnings per share. As a group, analysts predict that Brookfield Renewable Partners will post -0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Scotiabank upped their target price on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday. CIBC upped their target price on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday. Raymond James cut their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $28.00 target price (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

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.