Brookfield Renewable Partners (NYSE:BEP) Releases Earnings Results, Misses Expectations By $0.09 EPS

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP posted its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09), Zacks reports. The business had revenue of $907.00 million during the quarter, compared to analyst estimates of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%.

Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock traded up $0.47 during trading hours on Friday, hitting $23.18. 395,043 shares of the company were exchanged, compared to its average volume of 559,382. The business has a 50-day moving average of $22.29 and a 200-day moving average of $23.20. Brookfield Renewable Partners has a 1 year low of $19.29 and a 1 year high of $29.56. 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 stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of -26.04 and a beta of 0.99.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date is Friday, May 30th. Brookfield Renewable Partners's payout ratio is currently -147.52%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BEP. 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 note on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company cut their price target on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday. StockNews.com downgraded shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th. Finally, CIBC cut their target price on Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.67.

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.