Brookfield Renewable Partners L.P. (BEP) To Go Ex-Dividend on May 31st

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.355 per share by the utilities provider on Friday, June 28th. This represents a $1.42 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, May 31st.

Brookfield Renewable Partners has raised its dividend by an average of 1.2% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Brookfield Renewable Partners has a dividend payout ratio of -373.7% meaning 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 to earn ($0.09) 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 -1,577.8%.

Brookfield Renewable Partners Trading Down 1.1 %

Shares of BEP opened at $26.35 on Wednesday. The stock has a market capitalization of $7.54 billion, a P/E ratio of -57.28 and a beta of 0.83. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $22.58 and a two-hundred day simple moving average of $24.01. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $32.76.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BEP. Scotiabank increased their price target on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday. National Bankshares increased their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $28.00 price objective (down from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. Finally, Raymond James decreased their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.75.

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.