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

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP declared a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Stockholders of record on Friday, May 30th will be given a dividend of 0.373 per share by the utilities provider on Monday, June 30th. This represents a $1.49 annualized dividend and a dividend yield of 6.53%. The ex-dividend date of this dividend is Friday, May 30th.

Brookfield Renewable Partners has raised its dividend payment by an average of 5.3% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Brookfield Renewable Partners has a payout ratio of -266.1% 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 ($0.86) 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 Price Performance

Shares of Brookfield Renewable Partners stock traded up $0.44 on Thursday, hitting $22.86. 372,283 shares of the company traded hands, compared to its average volume of 558,595. 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 firm's 50-day simple moving average is $22.27 and its 200 day simple moving average is $23.24. The company has a market cap of $6.49 billion, a P/E ratio of -25.69 and a beta of 0.99. Brookfield Renewable Partners has a 12-month low of $19.29 and a 12-month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). The business had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. Analysts expect that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BEP. National Bankshares decreased their target price on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. Barclays initiated coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 target price for the company. CIBC decreased their price target on Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a research note on Monday. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.67.

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.