Van ECK Associates Corp Buys 4,572 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Van ECK Associates Corp grew its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,029 shares of the company’s stock after acquiring an additional 4,572 shares during the period. Van ECK Associates Corp owned about 0.08% of Brookfield Renewable worth $3,348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BEPC. Parnassus Investments LLC lifted its holdings in shares of Brookfield Renewable by 3.7% in the 3rd quarter. Parnassus Investments LLC now owns 2,667,638 shares of the company’s stock worth $87,125,000 after buying an additional 94,710 shares during the period. CIBC Asset Management Inc lifted its stake in Brookfield Renewable by 26.0% in the third quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock worth $81,291,000 after acquiring an additional 504,060 shares during the period. Geode Capital Management LLC grew its holdings 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 acquiring an additional 25,558 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Brookfield Renewable by 1.4% in 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. lifted its position 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 worth $23,290,000 after purchasing an additional 18,647 shares during the period. Institutional investors own 75.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Brookfield Renewable Price Performance

Shares of BEPC opened at $28.81 on Thursday. The company has a 50 day moving average of $27.24 and a two-hundred day moving average of $29.24. 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 Co. has a twelve month low of $21.35 and a twelve month high of $35.14. The company has a market cap of $4.17 billion, a price-to-earnings ratio of -32.37 and a beta of 1.22.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a negative return on equity of 0.06% and a negative net margin of 0.15%.

Brookfield Renewable Increases Dividend

The business also recently disclosed 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 of this dividend is Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.18%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio is -159.55%.

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.