JPMorgan Chase & Co. Decreases Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

JPMorgan Chase & Co. lessened its stake in Brookfield Renewable Co. (NYSE:BEPC) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 571,958 shares of the company’s stock after selling 3,171 shares during the period. JPMorgan Chase & Co. owned about 0.32% of Brookfield Renewable worth $18,680,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BEPC. Hexagon Capital Partners LLC raised its stake in shares of Brookfield Renewable by 468.4% during the third quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock valued at $25,000 after acquiring an additional 623 shares during the last quarter. Truvestments Capital LLC purchased a new position in Brookfield Renewable during the 3rd quarter valued at about $31,000. Signaturefd LLC raised its position in Brookfield Renewable by 250.7% during the 3rd quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock valued at $72,000 after purchasing an additional 1,567 shares during the last quarter. US Bancorp DE lifted its holdings in Brookfield Renewable by 99.4% in the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company’s stock worth $99,000 after buying an additional 1,516 shares during the period. Finally, Quarry LP bought a new stake in shares of Brookfield Renewable in the 3rd quarter worth approximately $133,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upgraded Brookfield Renewable from a “neutral” rating to an “overweight” rating and upped their target price for the company from $32.00 to $34.00 in a report on Thursday, December 12th.

Brookfield Renewable Trading Down 5.5 %

Shares of BEPC opened at $27.57 on Friday. Brookfield Renewable Co. has a 1-year low of $21.35 and a 1-year high of $35.14. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $29.86 and its 200-day moving average price is $29.76. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of -33.62 and a beta of 1.23.

Brookfield Renewable (NYSE:BEPC) last posted its earnings results on Friday, November 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. During the same quarter last year, the company posted ($0.14) EPS. Sell-side analysts anticipate that Brookfield Renewable Co. will post -1.04 EPS for the current year.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Renewable’s dividend payout ratio is currently -173.17%.

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.