Van ECK Associates Corp lowered its holdings in Brookfield Renewable Co. (NYSE:BEPC – Get Rating) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,259 shares of the company’s stock after selling 3,996 shares during the period. Van ECK Associates Corp owned about 0.09% of Brookfield Renewable worth $4,841,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Colony Group LLC grew its stake in shares of Brookfield Renewable by 0.3% in the 2nd quarter. Colony Group LLC now owns 165,308 shares of the company’s stock worth $5,887,000 after purchasing an additional 523 shares during the last quarter. Bank of Montreal Can increased its position in shares of Brookfield Renewable by 24.9% in the second quarter. Bank of Montreal Can now owns 935,475 shares of the company’s stock worth $34,965,000 after acquiring an additional 186,352 shares in the last quarter. USS Investment Management Ltd increased its position in shares of Brookfield Renewable by 174.6% in the second quarter. USS Investment Management Ltd now owns 31,655 shares of the company’s stock worth $1,127,000 after acquiring an additional 20,126 shares in the last quarter. Fort Sheridan Advisors LLC increased its position in shares of Brookfield Renewable by 28.4% in the second quarter. Fort Sheridan Advisors LLC now owns 6,992 shares of the company’s stock worth $249,000 after acquiring an additional 1,546 shares in the last quarter. Finally, NewEdge Wealth LLC purchased a new position in shares of Brookfield Renewable in the second quarter worth approximately $203,000. Institutional investors and hedge funds own 68.12% of the company’s stock.
Brookfield Renewable Stock Performance
Brookfield Renewable stock opened at $29.48 on Thursday. The firm’s 50 day simple moving average is $30.46 and its 200-day simple moving average is $34.36. The company has a market cap of $5.08 billion, a P/E ratio of -52.64 and a beta of 0.95. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.33 and a quick ratio of 0.33. Brookfield Renewable Co. has a fifty-two week low of $27.19 and a fifty-two week high of $44.41.
Brookfield Renewable (NYSE:BEPC – Get Rating) last released its earnings results on Friday, November 4th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.14). The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, equities research analysts predict that Brookfield Renewable Co. will post -0.48 EPS for the current year.
Brookfield Renewable Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, November 30th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Tuesday, November 29th. Brookfield Renewable’s dividend payout ratio is currently -228.57%.
Wall Street Analyst Weigh In
Separately, Wells Fargo & Company dropped their target price on shares of Brookfield Renewable from $41.00 to $37.00 and set an “overweight” rating on the stock in a research report on Monday, November 7th.
Brookfield Renewable Company Profile
Brookfield Renewable Corporation owns and operates a portfolio of renewable energy power generating facilities primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, and solar power plants with an installed capacity of approximately 12,723 megawatts. The company was incorporated in 2019 and is headquartered in New York, New York.
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