Brookfield Renewable Co. (NYSE:BEPC) Stake Cut by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,800 shares of the company’s stock after selling 395 shares during the quarter. Victory Capital Management Inc.’s holdings in Brookfield Renewable were worth $745,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BEPC. Asset Management Advisors LLC lifted its position in Brookfield Renewable by 133.0% in the 3rd quarter. Asset Management Advisors LLC now owns 195,140 shares of the company’s stock worth $6,373,000 after buying an additional 111,390 shares in the last quarter. Washington Trust Advisors Inc. grew its stake in Brookfield Renewable by 1.0% in the third quarter. Washington Trust Advisors Inc. now owns 441,734 shares of the company’s stock valued at $14,427,000 after purchasing an additional 4,216 shares in the last quarter. Harvest Portfolios Group Inc. raised its stake in shares of Brookfield Renewable by 15.0% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company’s stock worth $9,733,000 after purchasing an additional 38,853 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Renewable during the 3rd quarter valued at about $1,369,000. Finally, US Bancorp DE increased its holdings in Brookfield Renewable by 99.4% in the third quarter. US Bancorp DE now owns 3,041 shares of the company’s stock worth $99,000 after buying an additional 1,516 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Price Performance

Shares of NYSE:BEPC opened at $32.68 on Friday. 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 business has a 50 day moving average price of $31.47 and a 200 day moving average price of $30.15. The company has a market cap of $5.87 billion, a price-to-earnings ratio of -39.85 and a beta of 1.20. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $35.14.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The company had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted ($0.14) EPS. Research analysts predict that Brookfield Renewable Co. will post -1.04 earnings per share for the current year.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable’s payout ratio is presently -173.17%.

Analyst Upgrades and Downgrades

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

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.