Rhumbline Advisers Lowers Stake in Brookfield Renewable Co. (NYSE:BEPC)

Rhumbline Advisers lessened its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,018 shares of the company’s stock after selling 2,125 shares during the period. Rhumbline Advisers owned approximately 0.07% of Brookfield Renewable worth $3,434,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BEPC. Bartlett & CO. Wealth Management LLC bought a new stake in Brookfield Renewable during the 4th quarter valued at about $30,000. Gulf International Bank UK Ltd lifted its holdings in shares of Brookfield Renewable by 161.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock valued at $29,000 after buying an additional 740 shares during the period. Beach Investment Counsel Inc. PA purchased a new position in shares of Brookfield Renewable in the 2nd quarter worth $46,000. Abich Financial Wealth Management LLC boosted its stake in shares of Brookfield Renewable by 49.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after buying an additional 592 shares during the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in shares of Brookfield Renewable by 111.1% in the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock worth $47,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their target price on Brookfield Renewable from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th.

Brookfield Renewable Stock Performance

NYSE BEPC opened at $30.19 on Wednesday. The business has a 50-day moving average price of $28.57 and a 200-day moving average price of $27.69. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of -65.63 and a beta of 1.18. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $32.83. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.87.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings data on Friday, August 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. As a group, equities research analysts predict that Brookfield Renewable Co. will post -1.02 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.355 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a yield of 4.70%. Brookfield Renewable’s dividend payout ratio is currently -308.70%.

Brookfield Renewable Profile

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.