Brookfield Renewable Partners (NYSE:BEP) Announces Earnings Results

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) released its quarterly earnings data on Friday. The utilities provider reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.41), Zacks reports. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company earned ($0.10) EPS. The firm’s revenue for the quarter 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 hours on Monday, hitting $23.30. The company had a trading volume of 406,634 shares, compared to its average volume of 483,226. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $6.64 billion, a P/E ratio of -51.39 and a beta of 0.92. The company has a 50-day moving average price of $25.66 and a two-hundred day moving average price of $24.56. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $28.81.

Brookfield Renewable Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BEP shares. CIBC raised their price target on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday. National Bankshares lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday. Finally, BMO Capital Markets lifted their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners currently has an average 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.