Brookfield Renewable Partners L.P. (NYSE:BEP) Declares $0.36 Quarterly Dividend

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date is Friday, November 29th.

Brookfield Renewable Partners has raised its dividend payment by an average of 1.2% annually over the last three years. Brookfield Renewable Partners has a payout ratio of 232.8% 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 0.8 %

Shares of NYSE:BEP traded up $0.21 during trading on Friday, reaching $26.42. 319,960 shares of the stock traded hands, compared to its average volume of 478,930. The stock has a 50-day moving average of $26.52 and a two-hundred day moving average of $25.78. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market cap of $7.53 billion, a P/E ratio of -41.28 and a beta of 0.95.

Wall Street Analyst Weigh In

BEP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target 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. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their target price for the stock from $24.00 to $31.00 in a report on Monday, September 30th. CIBC raised 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and a consensus target price of $31.78.

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.