Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Monday, January 13th, Zacks reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.543 per share by the utilities provider on Monday, March 30th. This represents a $2.17 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Thursday, February 27th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.52.
Brookfield Renewable Partners has increased its dividend payment by an average of 0.0% per year over the last three years and has increased its dividend every year for the last 5 years. Brookfield Renewable Partners has a dividend payout ratio of 1,144.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of Brookfield Renewable Partners stock traded up $0.14 on Wednesday, hitting $46.17. The stock had a trading volume of 10,420 shares, compared to its average volume of 307,468. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. Brookfield Renewable Partners has a one year low of $27.71 and a one year high of $48.76. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of 355.15 and a beta of 0.52. The stock’s 50-day simple moving average is $46.73 and its two-hundred day simple moving average is $40.86.
BEP has been the topic of several analyst reports. Royal Bank of Canada boosted their target price on Brookfield Renewable Partners from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 12th. BMO Capital Markets set a $39.00 target price on shares of Brookfield Renewable Partners and gave the company a “hold” rating in a research note on Friday, September 27th. National Bank Financial upped their target price on shares of Brookfield Renewable Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, September 30th. Barclays increased their price objective on shares of Brookfield Renewable Partners from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, ValuEngine downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Brookfield Renewable Partners has a consensus rating of “Hold” and an average price target of $41.00.
Brookfield Renewable Partners Company Profile
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.
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