Brookfield Renewable Co. Plans Quarterly Dividend of $0.36 (NYSE:BEPC)

Brookfield Renewable Co. (NYSE:BEPC) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.355 per share on Tuesday, December 31st. This represents a $1.42 annualized dividend and a yield of 4.35%. The ex-dividend date is Friday, November 29th.

Brookfield Renewable has raised its dividend payment by an average of 32.7% per year over the last three years. Brookfield Renewable has a dividend payout ratio of -175.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Brookfield Renewable to earn ($1.62) 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 -87.7%.

Brookfield Renewable Price Performance

Shares of NYSE:BEPC opened at $32.68 on Thursday. The firm has a market cap of $5.87 billion, a PE ratio of -39.85 and a beta of 1.20. Brookfield Renewable has a 52 week low of $21.35 and a 52 week high of $35.14. The firm’s fifty day moving average is $31.42 and its 200-day moving average is $30.13. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.51.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.37 billion. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. During the same quarter last year, the firm posted ($0.14) EPS. Sell-side analysts predict that Brookfield Renewable will post -1.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their price target on Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.