Brookfield Renewable Partners (NYSE:BEP) Posts Earnings Results, Misses Estimates By $0.28 EPS

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) posted its quarterly earnings data on Friday. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28), Zacks reports. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. During the same quarter last year, the company posted ($0.14) EPS.

Brookfield Renewable Partners Stock Down 2.0 %

BEP stock traded down $0.52 on Monday, hitting $25.90. The company had a trading volume of 304,894 shares, compared to its average volume of 478,132. The stock’s 50-day simple moving average is $26.52 and its 200 day simple moving average is $25.84. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Analysts Set New Price Targets

A number of research firms have issued reports on BEP. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. CIBC increased their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.78.

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.