Charles Schwab Investment Management Inc. Sells 5,026 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Charles Schwab Investment Management Inc. cut its position in Brookfield Renewable Co. (NYSE:BEPC) by 1.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 366,579 shares of the company’s stock after selling 5,026 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.20% of Brookfield Renewable worth $11,982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Epoch Investment Partners Inc. increased its holdings in Brookfield Renewable by 4,491.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,940,525 shares of the company’s stock worth $55,072,000 after buying an additional 1,898,258 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Brookfield Renewable by 301.6% in the second quarter. TD Asset Management Inc now owns 969,055 shares of the company’s stock worth $27,488,000 after acquiring an additional 727,780 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Brookfield Renewable by 26.0% during the third quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock valued at $81,291,000 after purchasing an additional 504,060 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Brookfield Renewable during the second quarter valued at approximately $9,831,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Brookfield Renewable by 66.5% in the second quarter. Envestnet Asset Management Inc. now owns 539,696 shares of the company’s stock worth $15,317,000 after purchasing an additional 215,592 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their target price on Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th.

Brookfield Renewable Trading Down 2.7 %

Shares of Brookfield Renewable stock opened at $29.74 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.51. The company has a fifty day moving average of $31.46 and a 200 day moving average of $30.13. The company has a market capitalization of $5.34 billion, a P/E ratio of -36.27 and a beta of 1.19. Brookfield Renewable Co. has a fifty-two week low of $21.35 and a fifty-two week high of $35.14.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The business had revenue of $1.47 billion during 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 period in the prior year, the firm posted ($0.14) earnings per share. On average, sell-side analysts anticipate that Brookfield Renewable Co. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable’s dividend payout ratio is presently -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.