Brookfield Renewable (NYSE:BEPC) Shares Gap Up After Earnings Beat

Brookfield Renewable Co. (NYSE:BEPC) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $25.51, but opened at $26.44. Brookfield Renewable shares last traded at $26.00, with a volume of 129,416 shares traded.

The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%.

Brookfield Renewable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date was Friday, November 29th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -173.17%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price target on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd.

Institutional Investors Weigh In On Brookfield Renewable

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC raised its stake in shares of Brookfield Renewable by 468.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after purchasing an additional 623 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Brookfield Renewable during the 3rd quarter worth approximately $31,000. Spirit of America Management Corp NY raised its stake in shares of Brookfield Renewable by 87.0% during the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock worth $59,000 after purchasing an additional 1,000 shares in the last quarter. Signaturefd LLC raised its stake in shares of Brookfield Renewable by 250.7% during the 3rd quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock worth $72,000 after purchasing an additional 1,567 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Brookfield Renewable by 99.4% during the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company’s stock worth $99,000 after purchasing an additional 1,516 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Trading Up 4.8 %

The business has a 50 day moving average of $28.24 and a two-hundred day moving average of $29.34. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm has a market cap of $3.88 billion, a P/E ratio of -32.61 and a beta of 1.23.

Brookfield Renewable Company 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.