Brookfield Renewable Corporation (BEPC) to Issue Quarterly Dividend of $0.39 on March 31st

Brookfield Renewable Corporation (NYSE:BEPC) announced a quarterly dividend on Friday, January 30th. Shareholders of record on Friday, February 27th will be given a dividend of 0.392 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, February 27th. This is a 5.1% increase from Brookfield Renewable’s previous quarterly dividend of $0.37.

Brookfield Renewable has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Brookfield Renewable has a payout ratio of -866.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Brookfield Renewable Stock Up 0.4%

NYSE BEPC traded up $0.20 during midday trading on Wednesday, hitting $43.66. 413,381 shares of the company traded hands, compared to its average volume of 971,520. Brookfield Renewable has a 52 week low of $23.73 and a 52 week high of $45.18. The company’s 50-day simple moving average is $40.29 and its 200-day simple moving average is $38.72. The company has a market cap of $6.32 billion, a PE ratio of -48.98 and a beta of 1.22. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.39.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BEPC shares. Barclays lifted their target price on Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Morgan Stanley lifted their price objective on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $40.00.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation (NYSE: BEPC) is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company’s operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.