Brookfield Renewable Partners L.P. (NYSE:BEP) Plans Quarterly Dividend of $0.37

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Friday, January 31st,NASDAQ Dividends reports. Investors of record on Friday, February 28th will be given a dividend of 0.373 per share by the utilities provider on Monday, March 31st. This represents a $1.49 annualized dividend and a yield of 6.81%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36.

Brookfield Renewable Partners has increased its dividend payment by an average of 5.3% annually over the last three years. Brookfield Renewable Partners has a dividend payout ratio of 546.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brookfield Renewable Partners to earn ($0.76) 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 -186.8%.

Brookfield Renewable Partners Stock Performance

Shares of BEP traded up $1.20 during midday trading on Friday, reaching $21.90. 1,682,281 shares of the stock were exchanged, compared to its average volume of 917,980. The stock’s 50 day simple moving average is $23.03 and its 200 day simple moving average is $24.72. The company has a market cap of $6.24 billion, a P/E ratio of -26.70 and a beta of 0.95. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the prior year, the company earned $0.01 EPS. On average, sell-side analysts expect that Brookfield Renewable Partners will post -1.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BEP shares. CIBC upped their price objective on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. National Bankshares lowered their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company 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 lowered their price target on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.