Brookfield Renewable Co. (NYSE:BEPC) Shares Sold by HBC Financial Services PLLC

HBC Financial Services PLLC cut its stake in Brookfield Renewable Co. (NYSE:BEPC) by 39.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,600 shares of the company’s stock after selling 1,050 shares during the quarter. HBC Financial Services PLLC’s holdings in Brookfield Renewable were worth $44,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in shares of Brookfield Renewable by 66.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 539,696 shares of the company’s stock worth $15,317,000 after acquiring an additional 215,592 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Brookfield Renewable by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock worth $59,359,000 after purchasing an additional 191,550 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Brookfield Renewable by 59.2% in the second quarter. Canada Pension Plan Investment Board now owns 473,631 shares of the company’s stock valued at $13,416,000 after purchasing an additional 176,200 shares during the period. Sei Investments Co. increased its position in shares of Brookfield Renewable by 26.2% in the second quarter. Sei Investments Co. now owns 23,662 shares of the company’s stock valued at $672,000 after buying an additional 4,916 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Brookfield Renewable by 93.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 5,519 shares of the company’s stock worth $157,000 after buying an additional 2,661 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised shares of Brookfield Renewable from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $32.00 to $34.00 in a research note on Thursday, December 12th.

Brookfield Renewable Stock Down 2.8 %

BEPC stock opened at $25.32 on Tuesday. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm has a 50-day simple moving average of $29.18 and a 200-day simple moving average of $29.63. The stock has a market capitalization of $3.67 billion, a P/E ratio of -30.88 and a beta of 1.23.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. During the same quarter last year, the firm posted ($0.14) earnings per share. Equities analysts forecast that Brookfield Renewable Co. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.61%. The ex-dividend date was Friday, November 29th. Brookfield Renewable’s dividend payout ratio is currently -173.17%.

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.