Brookfield Renewable Co. (NYSE:BEPC) Declares Dividend Increase – $0.37 Per Share

Brookfield Renewable Co. (NYSE:BEPC) declared a quarterly dividend on Friday, January 31st,NASDAQ Dividends reports. Investors of record on Friday, February 28th will be paid a dividend of 0.373 per share on Monday, March 31st. This represents a $1.49 annualized dividend and a yield of 5.58%. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36.

Brookfield Renewable has raised its dividend payment by an average of 13.5% annually over the last three years. Brookfield Renewable has a payout ratio of -258.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Brookfield Renewable to earn ($1.62) 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 -87.7%.

Brookfield Renewable Trading Up 4.8 %

Shares of BEPC traded up $1.23 during trading hours on Friday, hitting $26.74. The stock had a trading volume of 1,653,058 shares, compared to its average volume of 1,075,675. The company’s fifty day simple moving average is $28.24 and its 200 day simple moving average is $29.33. Brookfield Renewable has a 12-month low of $21.35 and a 12-month high of $35.14. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $3.88 billion, a P/E ratio of -32.61 and a beta of 1.23.

Brookfield Renewable (NYSE:BEPC) last issued its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. Equities research analysts forecast that Brookfield Renewable will post -1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. decreased their target price on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.