Short Interest in Brookfield Renewable Co. (NYSE:BEPC) Expands By 8.6%

Brookfield Renewable Co. (NYSE:BEPC) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 6,290,000 shares, an increase of 8.6% from the August 15th total of 5,790,000 shares. Based on an average daily volume of 814,400 shares, the days-to-cover ratio is presently 7.7 days.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price target on Brookfield Renewable from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Brookfield Renewable in the fourth quarter valued at $30,000. Gulf International Bank UK Ltd grew its holdings in Brookfield Renewable by 161.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock valued at $29,000 after buying an additional 740 shares during the period. Beach Investment Counsel Inc. PA acquired a new position in shares of Brookfield Renewable during the 2nd quarter valued at about $46,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Brookfield Renewable by 49.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after acquiring an additional 592 shares during the period. Finally, UniSuper Management Pty Ltd boosted its position in shares of Brookfield Renewable by 111.1% in the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock worth $47,000 after acquiring an additional 1,000 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Price Performance

BEPC stock traded up $0.01 on Wednesday, reaching $30.20. The company had a trading volume of 771,018 shares, compared to its average volume of 954,290. The company’s fifty day moving average is $28.58 and its 200 day moving average is $27.73. The company has a market cap of $5.43 billion, a P/E ratio of -65.98 and a beta of 1.18. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.40. Brookfield Renewable has a 1 year low of $21.35 and a 1 year high of $32.83.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. On average, research analysts forecast that Brookfield Renewable will post -1.02 earnings per share for the current year.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable’s payout ratio is -308.70%.

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.