Brookfield Renewable Partners (NYSE:BEP) Announces Earnings Results

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) announced its quarterly earnings results on Friday. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41), Zacks reports. Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business earned ($0.10) EPS. Brookfield Renewable Partners’s revenue was up 23.0% on a year-over-year basis.

Brookfield Renewable Partners Trading Down 3.2 %

Brookfield Renewable Partners stock traded down $0.76 during trading on Monday, hitting $23.30. The company had a trading volume of 406,656 shares, compared to its average volume of 483,226. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $28.81. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88. The company’s 50 day simple moving average is $25.66 and its 200-day simple moving average is $24.56. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of -51.39 and a beta of 0.92.

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable Partners’s payout ratio is presently -308.70%.

Analyst Ratings Changes

A number of research analysts have issued reports on BEP shares. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday. BMO Capital Markets lifted their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. CIBC lifted their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Scotiabank lifted their price objective on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.42.

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.