Brookfield Renewable Partners L.P. (NYSE:BEP) to Issue Quarterly Dividend of $0.36

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) declared 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 of this dividend is Friday, November 29th.

Brookfield Renewable Partners has raised its dividend payment by an average of 1.2% per year over the last three years. Brookfield Renewable Partners has a dividend payout ratio of 232.8% meaning 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 Price Performance

Shares of NYSE BEP traded up $0.21 during mid-day trading on Friday, reaching $26.42. 319,960 shares of the company were exchanged, compared to its average volume of 478,930. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $29.56. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $7.53 billion, a PE ratio of -41.28 and a beta of 0.95. The company’s 50 day moving average price is $26.52 and its 200 day moving average price is $25.78.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BEP. JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Finally, CIBC upped their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.