Brookfield Renewable Partners L.P. (NYSE:BEP) Announces $0.36 Quarterly Dividend

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP declared a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.355 per share by the utilities provider on Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend is Friday, November 29th.

Brookfield Renewable Partners has increased its dividend by an average of 1.2% per year over the last three years. Brookfield Renewable Partners has a dividend payout ratio of 232.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brookfield Renewable Partners to earn ($0.36) 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 -394.4%.

Brookfield Renewable Partners Price Performance

BEP traded up $0.21 during trading on Friday, reaching $26.42. 319,960 shares of the company were exchanged, compared to its average volume of 520,204. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56. The company's 50-day moving average is $26.52 and its two-hundred day moving average is $25.78. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. The company has a market cap of $7.53 billion, a price-to-earnings ratio of -41.28 and a beta of 0.95.

Analyst Upgrades and Downgrades

BEP has been the subject of a number of analyst reports. National Bankshares raised their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an "outperform" rating in a research report on Friday, July 19th. CIBC boosted their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an "outperformer" rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued an "outperform" rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. UBS Group upgraded Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and upped their target price for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.78.

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.