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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) declared 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 6.45%. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36.

Brookfield Renewable Partners has raised its dividend by an average of 5.3% per year over the last three years. Brookfield Renewable Partners has a dividend payout ratio of -232.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Brookfield Renewable Partners to earn ($0.86) per share next year, which means the company may not be able to cover its $1.49 annual dividend with an expected future payout ratio of -173.3%.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $23.12 on Wednesday. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The company’s 50-day moving average is $22.23 and its two-hundred day moving average is $24.50. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.59 billion, a PE ratio of -25.98 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the previous year, the firm earned $0.01 EPS. Equities analysts anticipate that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Wall Street Analyst Weigh In

BEP has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. Scotiabank upped their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. National Bankshares decreased their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, CIBC decreased their price target on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

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.