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 given a dividend of 0.4675 per share by the utilities provider on Saturday, September 30th. This represents a $1.87 annualized dividend and a yield of 5.36%. The ex-dividend date is Tuesday, August 29th.

Brookfield Renewable Partners L.P. has increased its dividend by an average of 69.9% per year over the last three years and has raised 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 research analysts expect Brookfield Renewable Partners L.P. to earn $0.16 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 1,168.8%.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) traded up 1.04% during midday trading on Friday, reaching $34.87. 36,041 shares of the company’s stock traded hands. Brookfield Renewable Partners L.P. has a 52-week low of $26.61 and a 52-week high of $35.00. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 11623.33 and a beta of 0.25. The stock has a 50 day moving average of $33.34 and a 200-day moving average of $31.27.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, August 4th. The utilities provider reported $0.13 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $683 million during the quarter, compared to the consensus estimate of $721.75 million. On average, equities research analysts expect that Brookfield Renewable Partners L.P. will post $0.11 EPS for the current year.

A number of equities research analysts have recently weighed in on the company. TD Securities lifted their target price on Brookfield Renewable Partners L.P. from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. National Bank Financial downgraded Brookfield Renewable Partners L.P. from an “outperform” rating to a “sector perform” rating and set a $35.00 target price for the company. in a report on Tuesday, August 8th. Raymond James Financial, Inc. dropped their target price on Brookfield Renewable Partners L.P. from $35.00 to $33.00 and set a “market perform” rating for the company in a report on Tuesday, August 8th. Royal Bank Of Canada lifted their target price on Brookfield Renewable Partners L.P. from $32.00 to $35.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 8th. Finally, Brookfield Renewable Partners LP dropped their target price on Brookfield Renewable Partners L.P. to $42.00 and set a “market perform” rating for the company in a report on Thursday. Ten investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $36.56.

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About Brookfield Renewable Partners L.P.

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.

Dividend History for Brookfield Renewable Partners L.P. (NYSE:BEP)

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