Proficio Capital Partners LLC Buys Shares of 18,422 Brookfield Renewable Co. (NYSE:BEPC)

Proficio Capital Partners LLC bought a new position in Brookfield Renewable Co. (NYSE:BEPC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,422 shares of the company’s stock, valued at approximately $510,000.

Other hedge funds also recently modified their holdings of the company. Robeco Schweiz AG bought a new stake in Brookfield Renewable in the fourth quarter worth $55,680,000. Geode Capital Management LLC boosted its stake in shares of 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 acquiring an additional 25,558 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of 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 acquiring an additional 16,033 shares during the last quarter. Cibc World Market Inc. raised its stake in shares of Brookfield Renewable by 2.3% in the 4th quarter. Cibc World Market Inc. now owns 842,000 shares of the company’s stock valued at $23,290,000 after acquiring an additional 18,647 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in Brookfield Renewable by 58.5% in the 4th quarter. Baillie Gifford & Co. now owns 663,077 shares of the company’s stock worth $18,341,000 after purchasing an additional 244,706 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC opened at $29.39 on Monday. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $35.14. The company has a market cap of $4.26 billion, a P/E ratio of -33.02 and a beta of 1.20. The business’s 50 day moving average is $27.17 and its two-hundred day moving average is $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 announced its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company cut their target price on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd.

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.