Millennium Management LLC Acquires 160,216 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Millennium Management LLC boosted its position in Brookfield Renewable Co. (NYSE:BEPC) by 219.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,187 shares of the company’s stock after purchasing an additional 160,216 shares during the period. Millennium Management LLC owned 0.13% of Brookfield Renewable worth $6,614,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BEPC. CWM LLC grew its stake in Brookfield Renewable by 9.5% during the second quarter. CWM LLC now owns 4,069 shares of the company’s stock worth $115,000 after purchasing an additional 353 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Brookfield Renewable by 1.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,126 shares of the company’s stock valued at $827,000 after purchasing an additional 446 shares in the last quarter. Moseley Investment Management Inc. lifted its holdings in shares of Brookfield Renewable by 4.9% in the first quarter. Moseley Investment Management Inc. now owns 10,781 shares of the company’s stock valued at $265,000 after purchasing an additional 504 shares in the last quarter. Smith Salley Wealth Management lifted its holdings in shares of Brookfield Renewable by 2.2% in the second quarter. Smith Salley Wealth Management now owns 26,470 shares of the company’s stock valued at $751,000 after purchasing an additional 563 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in shares of Brookfield Renewable by 49.7% during the first quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock valued at $44,000 after acquiring an additional 592 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $29.65 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average of $29.37 and a 200 day moving average of $28.53. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $33.17. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of -64.45 and a beta of 1.19.

Brookfield Renewable (NYSE:BEPC) last released its earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share 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 during the quarter, compared to the consensus estimate of $1.51 billion. On average, research analysts expect that Brookfield Renewable Co. will post -1.02 EPS for the current fiscal year.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $0.355 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.79%. Brookfield Renewable’s dividend payout ratio (DPR) is -308.70%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price target on Brookfield Renewable from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th.

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.