Amalgamated Bank Lowers Position in Brookfield Renewable Co. (NYSE:BEPC)

Amalgamated Bank cut its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 54.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,204 shares of the company’s stock after selling 8,767 shares during the period. Amalgamated Bank’s holdings in Brookfield Renewable were worth $235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its holdings in shares of Brookfield Renewable by 55.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,300 shares of the company’s stock worth $450,000 after purchasing an additional 6,507 shares during the period. Russell Investments Group Ltd. boosted its position in Brookfield Renewable by 67.1% during the first quarter. Russell Investments Group Ltd. now owns 206,733 shares of the company’s stock valued at $5,079,000 after purchasing an additional 83,003 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Brookfield Renewable in the 1st quarter valued at about $1,515,000. Vanguard Group Inc. increased its position in shares of Brookfield Renewable by 0.9% during the first quarter. Vanguard Group Inc. now owns 5,244,258 shares of the company’s stock worth $128,851,000 after purchasing an additional 47,139 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Brookfield Renewable during the 1st quarter valued at about $1,510,000. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Trading Down 0.8 %

NYSE BEPC opened at $30.09 on Monday. The company has a fifty day moving average of $31.15 and a 200 day moving average of $30.05. The company has a market capitalization of $5.41 billion, a PE ratio of -36.69 and a beta of 1.20. Brookfield Renewable Co. has a 1 year low of $21.35 and a 1 year high of $35.14. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.40.

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

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable’s payout ratio is -173.17%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th.

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.