Truist Financial Corp Purchases New Stake in Brookfield Renewable Co. (NYSE:BEPC)

Truist Financial Corp purchased a new stake in Brookfield Renewable Co. (NYSE:BEPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,542 shares of the company’s stock, valued at approximately $384,000.

Several other hedge funds have also bought and sold shares of BEPC. Gulf International Bank UK Ltd grew its position 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 purchasing an additional 740 shares during the period. Abich Financial Wealth Management LLC grew its position in Brookfield Renewable by 49.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock valued at $44,000 after purchasing an additional 592 shares during the period. Beach Investment Counsel Inc. PA acquired a new stake in Brookfield Renewable in the 2nd quarter valued at $46,000. UniSuper Management Pty Ltd grew its position in Brookfield Renewable by 111.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock valued at $47,000 after purchasing an additional 1,000 shares during the period. Finally, GoalVest Advisory LLC purchased a new position in Brookfield Renewable during the 1st quarter worth $54,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

BEPC opened at $32.47 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of -70.59 and a beta of 1.19. The firm’s fifty day moving average price is $29.72 and its two-hundred day moving average price is $28.76. Brookfield Renewable Co. has a 1 year low of $21.35 and a 1 year high of $33.17.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The firm 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%. As a group, analysts anticipate that Brookfield Renewable Co. will post -1.02 earnings per share for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Friday, August 30th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -308.70%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday.

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.