Brookfield Renewable Partners L.P. (NYSE:BEP) Plans Quarterly Dividend of $0.36

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.355 per share by the utilities provider on Friday, June 28th. This represents a $1.42 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend is Friday, May 31st.

Brookfield Renewable Partners has increased its dividend by an average of 1.2% annually over the last three years and has raised its dividend every year for the last 1 years. Brookfield Renewable Partners has a payout ratio of -373.7% 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 analysts expect Brookfield Renewable Partners to earn ($0.09) per share next year, which means the company may not be able to cover its $1.42 annual dividend with an expected future payout ratio of -1,577.8%.

Brookfield Renewable Partners Trading Up 3.3 %

Shares of BEP stock opened at $26.63 on Tuesday. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $32.76. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57. The company has a 50 day moving average price of $22.51 and a 200 day moving average price of $23.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.08 billion. Brookfield Renewable Partners had a return on equity of 1.31% and a net margin of 7.10%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) earnings per share. Sell-side analysts forecast that Brookfield Renewable Partners will post -0.01 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. National Bankshares upped their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Raymond James decreased their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. Scotiabank increased their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Royal Bank of Canada lifted their price objective on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.75.

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.