Brookfield Renewable Partners LP - Unit (BEP) Declares $0.34 Dividend
Brookfield Renewable Partners LP - Unit said on May 5, 2023 that its board of directors declared a regular quarterly dividend of $0.34 per share ($1.35 annualized). Previously, the company paid $0.34 per share.
Shares must be purchased before the ex-div date of May 30, 2023 to qualify for the dividend. Shareholders of record as of May 31, 2023 will receive the payment on June 30, 2023.
At the current share price of $31.47 / share, the stock's dividend yield is 4.29%.
Additionally, the company's dividend payout ratio is -7.50. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 285 funds or institutions reporting positions in Brookfield Renewable Partners LP - Unit. This is an increase of 22 owner(s) or 8.37% in the last quarter. Average portfolio weight of all funds dedicated to BEP is 0.49%, an increase of 26.94%. Total shares owned by institutions decreased in the last three months by 0.23% to 169,368K shares. 
The put/call ratio of BEP is 2.57, indicating a bearish outlook.
Analyst Price Forecast Suggests 13.98% Downside
As of April 24, 2023, the average one-year price target for Brookfield Renewable Partners LP - Unit is 27.07. The forecasts range from a low of 24.44 to a high of $31.86. The average price target represents a decrease of 13.98% from its latest reported closing price of 31.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Brookfield Renewable Partners LP - Unit is 4,107MM. The projected annual non-GAAP EPS is 0.38.
What are Other Shareholders Doing?
Brookfield Asset Management holds 68,749K shares representing 14.51% ownership of the company. No change in the last quarter.
FIL holds 8,266K shares representing 1.74% ownership of the company. In it's prior filing, the firm reported owning 8,063K shares, representing an increase of 2.46%. The firm decreased its portfolio allocation in BEP by 99.97% over the last quarter.
1832 Asset Management holds 7,955K shares representing 1.68% ownership of the company. No change in the last quarter.
Bank Of Montreal holds 6,668K shares representing 1.41% ownership of the company. In it's prior filing, the firm reported owning 6,723K shares, representing a decrease of 0.83%. The firm decreased its portfolio allocation in BEP by 20.22% over the last quarter.
Principal Financial Group holds 6,333K shares representing 1.34% ownership of the company. In it's prior filing, the firm reported owning 6,211K shares, representing an increase of 1.93%. The firm decreased its portfolio allocation in BEP by 57.65% over the last quarter.
Brookfield Renewable Partners Background Information
(This description is provided by the company.)
Brookfield Renewable operates one of the world's largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 20,000 megawatts of installed capacity and an approximately 23,000 megawatt development pipeline.
This story originally appeared on Fintel.