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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Friday, May 31st.

Brookfield Renewable Partners has increased its dividend payment by an average of 1.2% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Brookfield Renewable Partners has a payout ratio of -373.7% 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 ($0.09) 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 Stock Down 1.1 %

Shares of NYSE:BEP opened at $26.35 on Wednesday. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of -57.28 and a beta of 0.83. 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 quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average price is $22.58 and its 200 day moving average price is $24.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. CIBC raised their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank of Canada boosted their price target on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. restated a “neutral” rating and set a $28.00 price objective (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. Raymond James lowered their price objective 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. Finally, Scotiabank increased their target price on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Brookfield Renewable Partners Company Profile

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.