Brookfield Renewable Partners L.P. (BEP) To Go Ex-Dividend on May 29th

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Friday, May 1st. Stockholders of record on Friday, May 29th will be given a dividend of 0.392 per share by the utilities provider on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, May 29th.

Brookfield Renewable Partners has decreased its dividend payment by an average of 0.0%annually 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 -15,600.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brookfield Renewable Partners to earn ($1.15) per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of -135.7%.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $33.33 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.57. Brookfield Renewable Partners has a 1-year low of $22.17 and a 1-year high of $35.97. The company has a market capitalization of $10.11 billion, a P/E ratio of -107.51 and a beta of 1.07. The firm’s 50 day simple moving average is $32.40 and its two-hundred day simple moving average is $30.08.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. Research analysts expect that Brookfield Renewable Partners will post -1.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BEP. Zacks Research raised shares of Brookfield Renewable Partners from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. National Bank Financial increased their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Friday, March 27th. Morgan Stanley increased their price objective on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.93.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.