Brookfield Renewable Corporation Plans Quarterly Dividend of $0.37 (NYSE:BEPC)

Key Points

• Brookfield Renewable Corporation announced a quarterly dividend of $0.37 per share, representing an annualized dividend yield of 4.3%, with shareholders of record set for August 29th.
• The company has a dividend payout ratio of -827.8%, indicating it is currently relying on its balance sheet rather than earnings to cover dividend payments.
• Despite a recent uptick in stock price, noted analyst adjustments include a target price decrease by Wells Fargo and an increase by JPMorgan Chase, highlighting mixed sentiments in the market.

Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report) declared a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Investors of record on Friday, August 29th will be given a dividend of 0.373 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, August 29th.

Brookfield Renewable has a payout ratio of -827.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC traded down $0.21 during trading on Friday, hitting $34.12. 198,006 shares of the company were exchanged, compared to its average volume of 1,028,543. Brookfield Renewable has a 52-week low of $23.73 and a 52-week high of $37.00. The stock has a 50 day moving average of $33.36 and a 200 day moving average of $29.65. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.27 and a quick ratio of 0.25. The company has a market cap of $4.94 billion, a PE ratio of -38.36 and a beta of 1.17.

Analyst Ratings Changes

A number of brokerages recently weighed in on BEPC. Wells Fargo & Company lowered their target price on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. upped their target price on shares of Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.