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

Brookfield Renewable Partners L.P. (NYSE:BEPGet Free Report) (TSE:BEP) declared a quarterly dividend on Friday, February 2nd, NASDAQ reports. Investors of record on Thursday, February 29th will be given a dividend of 0.355 per share by the utilities provider on Thursday, March 28th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date of this dividend is Wednesday, February 28th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34.

Brookfield Renewable Partners has decreased its dividend by an average of 2.3% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Brookfield Renewable Partners has a dividend payout ratio of 642.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Brookfield Renewable Partners to earn $0.12 per share next year, which means the company may not be able to cover its $1.35 annual dividend with an expected future payout ratio of 1,125.0%.

Brookfield Renewable Partners Price Performance

Shares of BEP stock traded down $0.72 on Friday, reaching $25.41. The company’s stock had a trading volume of 487,153 shares, compared to its average volume of 284,293. The stock’s fifty day simple moving average is $26.00 and its 200-day simple moving average is $25.16. Brookfield Renewable Partners has a 1 year low of $19.97 and a 1 year high of $32.76. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of -51.86 and a beta of 0.85.

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) last posted its earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 8.39% and a return on equity of 1.54%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm posted ($0.16) earnings per share. Brookfield Renewable Partners’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts forecast that Brookfield Renewable Partners will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BEP has been the subject of a number of analyst reports. Raymond James lowered their price target on Brookfield Renewable Partners from $37.00 to $33.00 and set a “strong-buy” rating for the company in a research report on Monday, November 6th. UBS Group downgraded Brookfield Renewable Partners from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $34.00 to $25.00 in a research report on Friday, November 17th. National Bankshares raised their price target on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, November 13th. Finally, StockNews.com upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and a consensus price target of $31.20.

Check Out Our Latest Stock Report on BEP

Hedge Funds Weigh In On Brookfield Renewable Partners

Institutional investors have recently made changes to their positions in the company. Financial Freedom LLC purchased a new position in shares of Brookfield Renewable Partners during the fourth quarter valued at $28,000. Clear Street Markets LLC purchased a new position in Brookfield Renewable Partners in the fourth quarter valued at about $34,000. Geneos Wealth Management Inc. grew its stake in Brookfield Renewable Partners by 363.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,275 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 1,000 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in Brookfield Renewable Partners by 69.4% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,155 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 883 shares during the last quarter. Finally, PCA Investment Advisory Services Inc. purchased a new position in Brookfield Renewable Partners in the second quarter valued at about $90,000. Hedge funds and other institutional investors own 60.36% of the company’s stock.

About Brookfield Renewable Partners

(Get Free Report)

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, and Asia. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

Further Reading

Dividend History for Brookfield Renewable Partners (NYSE:BEP)

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