Rhumbline Advisers Sells 2,004 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Rhumbline Advisers lessened its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 1.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 116,802 shares of the company’s stock after selling 2,004 shares during the period. Rhumbline Advisers owned 0.08% of Brookfield Renewable worth $3,231,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc raised its position in shares of Brookfield Renewable by 26.0% during the 3rd quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock valued at $81,291,000 after buying an additional 504,060 shares in the last quarter. Asset Management Advisors LLC increased its stake in Brookfield Renewable by 133.0% during the third quarter. Asset Management Advisors LLC now owns 195,140 shares of the company’s stock worth $6,373,000 after acquiring an additional 111,390 shares during the last quarter. Parnassus Investments LLC raised its position in Brookfield Renewable by 3.7% during the third quarter. Parnassus Investments LLC now owns 2,667,638 shares of the company’s stock valued at $87,125,000 after purchasing an additional 94,710 shares during the period. Plato Investment Management Ltd lifted its stake in shares of Brookfield Renewable by 772.2% in the 3rd quarter. Plato Investment Management Ltd now owns 78,982 shares of the company’s stock valued at $2,579,000 after purchasing an additional 69,926 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Brookfield Renewable by 135.3% in the 3rd quarter. Intech Investment Management LLC now owns 103,699 shares of the company’s stock worth $3,390,000 after purchasing an additional 59,630 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

Shares of Brookfield Renewable stock opened at $27.87 on Friday. The firm has a market capitalization of $4.04 billion, a P/E ratio of -31.31 and a beta of 1.22. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $27.18 and a 200 day moving average price of $29.28.

Brookfield Renewable (NYSE:BEPC) last posted its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a negative net margin of 0.15% and a negative return on equity of 0.06%.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BEPC. Wells Fargo & Company decreased their price objective on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd.

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.