Brookfield Renewable Partners L.P. (BEP) to Distribute Quarterly Dividend of $0.39 on September 29th

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Thursday, July 30th. Investors of record on Monday, August 31st will be paid a dividend of 0.392 per share by the utilities provider on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Monday, August 31st.

Brookfield Renewable Partners has decreased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 2 years. Brookfield Renewable Partners has a dividend payout ratio of -15,600.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Brookfield Renewable Partners to earn ($2.02) per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of -77.2%.

Brookfield Renewable Partners Stock Down 2.4%

Shares of Brookfield Renewable Partners stock opened at $31.72 on Friday. The firm has a market cap of $9.52 billion, a PE ratio of -68.96 and a beta of 1.11. The business’s 50 day simple moving average is $33.27 and its 200 day simple moving average is $33.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.80 and a current ratio of 0.80. Brookfield Renewable Partners has a 52-week low of $24.48 and a 52-week high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, July 31st. The utilities provider reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.56 billion. Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. On average, analysts predict that Brookfield Renewable Partners will post -1.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

BEP has been the topic of a number of research reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $41.00 price objective on shares of Brookfield Renewable Partners in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. TD lifted their price target on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Barclays set a $30.00 price target on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, TD Securities reaffirmed a “buy” rating and issued a $39.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.14.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.