Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) declared a quarterly dividend on Monday, January 13th, Zacks reports. Investors 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 dividend yield of 4.72%. 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% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Brookfield Renewable Partners has a payout ratio of 1,144.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of NYSE BEP traded up $0.01 during trading hours on Wednesday, hitting $46.04. 6,671 shares of the company’s stock were exchanged, compared to its average volume of 307,468. Brookfield Renewable Partners has a 1-year low of $27.71 and a 1-year high of $48.76. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 354.32 and a beta of 0.52. The company’s 50-day moving average price is $46.73 and its 200-day moving average price is $40.86.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Monday, November 11th. The utilities provider reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.18). The business had revenue of $642.00 million for the quarter. Brookfield Renewable Partners had a return on equity of 1.72% and a net margin of 9.26%.
Several research firms have commented on BEP. ValuEngine cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. National Bank Financial upped their price target on Brookfield Renewable Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, September 30th. Raymond James reaffirmed a “market perform” rating and issued a $40.00 price target on shares of Brookfield Renewable Partners in a report on Tuesday, November 12th. Royal Bank of Canada upped their price target on Brookfield Renewable Partners from $41.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, November 12th. Finally, Barclays upped their price target on Brookfield Renewable Partners from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $41.00.
About Brookfield Renewable Partners
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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