Brookfield Renewable Partners (NYSE:BEP) Announces Quarterly Earnings Results

Key Points

• Brookfield Renewable Partners reported a quarterly EPS of ($0.22), which was below the consensus estimate of ($0.19), leading to a miss of $0.03.
• Despite the earnings miss, the company's revenue reached $1.69 billion, surpassing the estimated $1.64 billion.
• The firm announced a quarterly dividend of $0.373 per share, translating to an annualized yield of 5.8%, while also reporting a negative dividend payout ratio of -147.52%.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP released its earnings results on Friday. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03), Zacks reports. The firm had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.64 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%.

Brookfield Renewable Partners Trading Down 1.6%

BEP traded down $0.41 on Wednesday, reaching $25.58. 254,478 shares of the company's stock were exchanged, compared to its average volume of 642,682. The company's 50 day moving average is $25.90 and its 200-day moving average is $23.61. The company has a market cap of $7.26 billion, a price-to-earnings ratio of -26.93 and a beta of 1.05. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $29.56. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.51 and a current ratio of 0.44.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio is -156.84%.

Institutional Trading of Brookfield Renewable Partners

An institutional investor recently raised its position in Brookfield Renewable Partners stock. Goldman Sachs Group Inc. raised its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 57.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 919,693 shares of the utilities provider's stock after acquiring an additional 333,789 shares during the quarter. Goldman Sachs Group Inc. owned 0.32% of Brookfield Renewable Partners worth $20,380,000 at the end of the most recent quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BEP has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. National Bankshares increased their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Raymond James Financial lowered shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, CIBC increased their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $30.11.

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.