Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) declared a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 5.53%. The ex-dividend date is Tuesday, August 29th.

Brookfield Renewable Partners L.P. has increased its dividend by an average of 69.9% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Brookfield Renewable Partners L.P. has a dividend payout ratio of -519.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Brookfield Renewable Partners L.P. to earn $0.32 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 584.4%.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) traded down 3.37% on Tuesday, reaching $33.82. The company’s stock had a trading volume of 138,177 shares. Brookfield Renewable Partners L.P. has a 12-month low of $26.61 and a 12-month high of $34.38. The company’s market cap is $10.03 billion. The company’s 50 day moving average price is $33.01 and its 200 day moving average price is $30.93.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The business had revenue of $683 million for the quarter, compared to analysts’ expectations of $721.75 million. Brookfield Renewable Partners L.P. had a return on equity of 0.75% and a net margin of 2.82%. Analysts forecast that Brookfield Renewable Partners L.P. will post $0.17 EPS for the current fiscal year.

BEP has been the topic of several research reports. GMP Securities reaffirmed a “buy” rating and set a $32.00 price objective on shares of Brookfield Renewable Partners L.P. in a research report on Friday, May 5th. TD Securities reissued a “buy” rating and issued a $45.00 price target on shares of Brookfield Renewable Partners L.P. in a research report on Thursday, May 4th. Zacks Investment Research raised Brookfield Renewable Partners L.P. from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, July 4th. TheStreet raised Brookfield Renewable Partners L.P. from a “d+” rating to a “c-” rating in a research report on Tuesday, June 27th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $32.00 price target (down from $33.00) on shares of Brookfield Renewable Partners L.P. in a research report on Sunday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.75.

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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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