Brookfield Renewable Partners (NYSE:BEP) Issues Quarterly Earnings Results, Misses Estimates By $0.41 EPS

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) announced its quarterly earnings results on Friday. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41), Zacks reports. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. The business’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) EPS.

Brookfield Renewable Partners Trading Down 3.2 %

BEP stock traded down $0.76 during midday trading on Monday, reaching $23.30. The company’s stock had a trading volume of 406,656 shares, compared to its average volume of 483,226. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of -51.39 and a beta of 0.92. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.56. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $28.81. The stock has a fifty day simple moving average of $25.66 and a two-hundred day simple moving average of $24.56.

Brookfield Renewable Partners Announces Dividend

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 given a $0.355 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a yield of 6.09%. Brookfield Renewable Partners’s dividend payout ratio is presently -308.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BEP shares. BMO Capital Markets raised their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday. 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 Monday. National Bankshares lifted their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners has an average rating of “Moderate Buy” and an average target price of $31.42.

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.