Brookfield Renewable Co. (NYSE:BEPC) Short Interest Update

Brookfield Renewable Co. (NYSE:BEPC – Get Rating) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 3,850,000 shares, a growth of 24.6% from the April 30th total of 3,090,000 shares. Based on an average daily trading volume, of 717,300 shares, the days-to-cover ratio is presently 5.4 days. Currently, 2.2% of the shares of the company are short sold.

Shares of BEPC traded down $0.59 during mid-day trading on Wednesday, reaching $35.59. The stock had a trading volume of 26,728 shares, compared to its average volume of 636,353. Brookfield Renewable has a 12 month low of $31.10 and a 12 month high of $45.43. The business has a fifty day moving average of $38.33 and a 200 day moving average of $37.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 0.24.

Brookfield Renewable (NYSE:BEPC – Get Rating) last posted its quarterly earnings results on Monday, February 28th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.06 billion. Brookfield Renewable had a negative return on equity of 2.08% and a negative net margin of 6.22%. Equities analysts forecast that Brookfield Renewable will post -0.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, May 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.60%. Brookfield Renewable’s payout ratio is currently -206.45%.

Several brokerages recently issued reports on BEPC. Zacks Investment Research upgraded shares of Brookfield Renewable from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Thursday, April 21st. Wells Fargo & Company dropped their price target on shares of Brookfield Renewable from $50.00 to $43.00 in a research report on Thursday, February 10th.

Several large investors have recently modified their holdings of the stock. Karpas Strategies LLC boosted its position in shares of Brookfield Renewable by 0.6% during the fourth quarter. Karpas Strategies LLC now owns 48,766 shares of the company’s stock worth $1,796,000 after acquiring an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Brookfield Renewable by 9.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 3,533 shares of the company’s stock worth $155,000 after acquiring an additional 310 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Brookfield Renewable by 2.3% during the first quarter. Sigma Planning Corp now owns 15,991 shares of the company’s stock worth $700,000 after acquiring an additional 354 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Brookfield Renewable by 1.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 35,861 shares of the company’s stock worth $1,320,000 after acquiring an additional 404 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its position in shares of Brookfield Renewable by 1.5% during the first quarter. Advisor Group Holdings Inc. now owns 27,863 shares of the company’s stock worth $1,112,000 after acquiring an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 67.96% of the company’s stock.

About Brookfield Renewable (Get Rating)

Brookfield Renewable Corporation owns and operates a portfolio of renewable energy power generating facilities primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, and solar power plants with an installed capacity of approximately 12,723 megawatts. The company was incorporated in 2019 and is headquartered in New York, New York.

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