Brookfield Renewable Partners (NYSE:BEP) Releases Earnings Results, Misses Expectations By $0.41 EPS

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

Brookfield Renewable Partners Stock Performance

NYSE:BEP traded down $0.76 during mid-day trading on Monday, reaching $23.30. 406,634 shares of the stock were exchanged, compared to its average volume of 483,226. The stock has a market capitalization of $6.64 billion, a P/E ratio of -51.39 and a beta of 0.92. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $28.81. The company has a 50 day simple moving average of $25.66 and a 200-day simple moving average of $24.56. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.88.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 6.09%. The ex-dividend date is Friday, August 30th. Brookfield Renewable Partners’s payout ratio is currently -308.70%.

Analyst Ratings Changes

BEP has been the topic of a number of analyst reports. Scotiabank increased their price target on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, June 12th. BMO Capital Markets lifted their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. raised their price objective on shares of 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 lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Finally, CIBC increased their target price on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.