Brookfield Renewable Partners L.P. (NYSE:BEP) Declares $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 6.41%. The ex-dividend date of this dividend is Friday, May 30th.

Brookfield Renewable Partners has increased its dividend by an average of 5.3% annually over the last three years and has raised its dividend every year for the last 2 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. Equities 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 Stock Performance

BEP traded up $0.55 on Friday, hitting $23.26. The company's stock had a trading volume of 485,498 shares, compared to its average volume of 560,382. The company's 50 day simple moving average is $22.32 and its 200-day simple moving average is $23.13. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a 12 month low of $19.29 and a 12 month high of $29.56. The firm has a market cap of $6.61 billion, a P/E ratio of -26.13 and a beta of 0.99.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on BEP. Royal Bank of Canada reiterated an "outperform" rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. Scotiabank boosted their target price on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. CIBC lowered their price objective on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating for the company in a report on Monday, May 5th. 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 assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.