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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Investors of record on Friday, November 29th will be given a dividend of 0.355 per share by the utilities provider on Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.52%. The ex-dividend date of this dividend is Friday, November 29th.

Brookfield Renewable Partners has raised its dividend by an average of 1.2% per year over the last three years. Brookfield Renewable Partners has a payout ratio of 244.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Brookfield Renewable Partners to earn ($0.36) 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 -394.4%.

Brookfield Renewable Partners Stock Up 0.1 %

Shares of Brookfield Renewable Partners stock opened at $25.72 on Wednesday. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The company has a 50-day moving average of $26.57 and a 200 day moving average of $25.91. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of -31.37 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. During the same quarter in the previous year, the company earned ($0.14) EPS. As a group, sell-side analysts anticipate that Brookfield Renewable Partners will post -0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BEP has been the subject of several recent analyst reports. CIBC lifted their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their target price for the company from $24.00 to $31.00 in a research note on Monday, September 30th. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.78.

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.