IFP Advisors Inc Grows Stock Holdings in Brookfield Renewable Co. (NYSE:BEPC)

IFP Advisors Inc lifted its position in Brookfield Renewable Co. (NYSE:BEPC) by 99.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,711 shares of the company’s stock after buying an additional 2,352 shares during the period. IFP Advisors Inc’s holdings in Brookfield Renewable were worth $130,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parnassus Investments LLC boosted its holdings in Brookfield Renewable by 3.7% in the third quarter. Parnassus Investments LLC now owns 2,667,638 shares of the company’s stock worth $87,125,000 after acquiring an additional 94,710 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Brookfield Renewable by 26.0% in the 3rd quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock worth $81,291,000 after purchasing an additional 504,060 shares in the last quarter. Geode Capital Management LLC grew its position in Brookfield Renewable by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,249,866 shares of the company’s stock worth $40,633,000 after purchasing an additional 25,558 shares during the last quarter. Bank of Montreal Can increased its stake in Brookfield Renewable by 1.4% during the 3rd quarter. Bank of Montreal Can now owns 1,139,177 shares of the company’s stock valued at $37,444,000 after purchasing an additional 16,033 shares in the last quarter. Finally, Cibc World Market Inc. raised its holdings in shares of Brookfield Renewable by 2.3% in the fourth quarter. Cibc World Market Inc. now owns 842,000 shares of the company’s stock worth $23,290,000 after buying an additional 18,647 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Up 0.9 %

BEPC stock opened at $26.73 on Wednesday. The stock has a market capitalization of $3.87 billion, a P/E ratio of -30.03 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 firm has a 50-day simple moving average of $27.10 and a 200-day simple moving average of $29.27. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.58%. Brookfield Renewable’s dividend payout ratio is currently -167.42%.

Analyst Ratings Changes

BEPC has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on 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. reduced their price objective 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.

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.