Brookfield Renewable Partners (NYSE:BEP) Posts Quarterly 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. Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the business earned ($0.10) EPS. The business’s quarterly revenue was up 23.0% compared to the same quarter last year.

Brookfield Renewable Partners Stock Down 3.2 %

Shares of Brookfield Renewable Partners stock traded down $0.77 during trading on Monday, hitting $23.29. The company’s stock had a trading volume of 406,889 shares, compared to its average volume of 483,226. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.56. The company has a fifty day simple moving average of $25.66 and a two-hundred day simple moving average of $24.56. The company has a market capitalization of $6.64 billion, a PE ratio of -51.39 and a beta of 0.92. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $28.81.

Brookfield Renewable Partners Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday. Scotiabank boosted their price objective on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, June 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday. CIBC increased their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, Raymond James lowered their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.