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Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) declared a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Investors of record on Thursday, August 31st will be paid a dividend of 0.4675 per share by the utilities provider on Saturday, September 30th. This represents a $1.87 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date is Tuesday, August 29th.
Brookfield Renewable Partners L.P. has increased its dividend payment by an average of 69.9% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Brookfield Renewable Partners L.P. has a payout ratio of -550.0% 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 L.P. to earn $0.35 per share next year, which means the company may not be able to cover its $1.87 annual dividend with an expected future payout ratio of 534.3%.
Shares of Brookfield Renewable Partners L.P. (BEP) traded up 1.04% during trading on Friday, reaching $34.87. 36,041 shares of the company were exchanged. The company has a market capitalization of $10.34 billion, a PE ratio of 11623.33 and a beta of 0.25. The firm’s 50 day moving average price is $33.26 and its 200 day moving average price is $31.23. Brookfield Renewable Partners L.P. has a one year low of $26.61 and a one year high of $35.00.
Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, August 4th. The utilities provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. Brookfield Renewable Partners L.P. had a return on equity of 0.76% and a net margin of 2.82%. The business had revenue of $683 million during the quarter, compared to the consensus estimate of $721.75 million. Equities research analysts forecast that Brookfield Renewable Partners L.P. will post $0.11 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on BEP. Royal Bank Of Canada lifted their price target on Brookfield Renewable Partners L.P. from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 8th. Raymond James Financial, Inc. dropped their price target on Brookfield Renewable Partners L.P. from $35.00 to $33.00 and set a “market perform” rating for the company in a research report on Tuesday, August 8th. TD Securities raised their price objective on Brookfield Renewable Partners L.P. from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. National Bank Financial cut Brookfield Renewable Partners L.P. from an “outperform” rating to a “sector perform” rating and set a $35.00 price objective on the stock. in a report on Tuesday, August 8th. Finally, Brookfield Renewable Partners LP decreased their price objective on Brookfield Renewable Partners L.P. to $42.00 and set a “market perform” rating on the stock in a report on Thursday. Ten research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $36.56.
Brookfield Renewable Partners L.P. Company Profile
Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.
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