Brookfield Renewable Partners (NYSE:BEP) Announces Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) released its quarterly earnings results on Friday. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.16, Zacks reports. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%.

Brookfield Renewable Partners Price Performance

NYSE:BEP traded up $1.51 during trading hours on Friday, reaching $22.21. The stock had a trading volume of 968,883 shares, compared to its average volume of 1,012,059. The stock has a market capitalization of $6.33 billion, a PE ratio of -27.08 and a beta of 0.95. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $29.56. The company has a 50 day moving average price of $23.09 and a two-hundred day moving average price of $24.75. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73.

Brookfield Renewable Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 6.39%. The ex-dividend date was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BEP. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. National Bankshares decreased their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, Scotiabank decreased their price target on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.78.

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.