Raymond James & Associates Sells 12,506 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Raymond James & Associates trimmed its position in Brookfield Renewable Co. (NYSE:BEPCGet Rating) by 11.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 99,425 shares of the company’s stock after selling 12,506 shares during the period. Raymond James & Associates owned 0.06% of Brookfield Renewable worth $3,249,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Brookfield Renewable by 67.7% in the second quarter. Principal Financial Group Inc. now owns 4,070,277 shares of the company’s stock valued at $144,942,000 after purchasing an additional 1,643,593 shares during the period. ClearBridge Investments Ltd increased its holdings in Brookfield Renewable by 24.1% in the second quarter. ClearBridge Investments Ltd now owns 3,021,660 shares of the company’s stock valued at $107,601,000 after purchasing an additional 586,684 shares during the period. Renaissance Technologies LLC increased its holdings in Brookfield Renewable by 32.5% in the second quarter. Renaissance Technologies LLC now owns 2,041,941 shares of the company’s stock valued at $72,717,000 after purchasing an additional 500,400 shares during the period. Goldman Sachs Group Inc. increased its holdings in Brookfield Renewable by 50.2% in the second quarter. Goldman Sachs Group Inc. now owns 1,331,298 shares of the company’s stock valued at $47,407,000 after purchasing an additional 444,713 shares during the period. Finally, Bank of America Corp DE increased its holdings in Brookfield Renewable by 83.4% in the first quarter. Bank of America Corp DE now owns 797,977 shares of the company’s stock valued at $34,951,000 after purchasing an additional 362,839 shares during the period. 68.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wells Fargo & Company decreased their price target on Brookfield Renewable from $41.00 to $37.00 and set an “overweight” rating for the company in a report on Monday, November 7th.

Brookfield Renewable Stock Performance

Shares of Brookfield Renewable stock opened at $31.04 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $30.37 and a two-hundred day moving average price of $34.16. Brookfield Renewable Co. has a 1-year low of $27.19 and a 1-year high of $44.41. The company has a market cap of $5.35 billion, a P/E ratio of -55.43 and a beta of 0.95.

Brookfield Renewable (NYSE:BEPCGet Rating) last issued its quarterly earnings results on Friday, November 4th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.14). The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, analysts anticipate that Brookfield Renewable Co. will post -0.48 EPS for the current year.

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.12%. Brookfield Renewable’s dividend payout ratio (DPR) is presently -228.57%.

About Brookfield Renewable

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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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Institutional Ownership by Quarter for Brookfield Renewable (NYSE:BEPC)

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