Mirae Asset Global Investments Co. Ltd. Acquires 7,201 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 27.4% in the fourth quarter, Holdings Channel reports. The firm owned 33,486 shares of the company’s stock after purchasing an additional 7,201 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Brookfield Renewable were worth $969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Parnassus Investments LLC bought a new position in Brookfield Renewable during the third quarter valued at about $54,942,000. CIBC Asset Management Inc boosted its stake in Brookfield Renewable by 28.0% in the third quarter. CIBC Asset Management Inc now owns 1,321,842 shares of the company’s stock valued at $31,739,000 after acquiring an additional 289,032 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Brookfield Renewable by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,087,794 shares of the company’s stock valued at $121,802,000 after acquiring an additional 250,617 shares during the period. Legal & General Group Plc increased its stake in shares of Brookfield Renewable by 8.3% during the 3rd quarter. Legal & General Group Plc now owns 2,971,868 shares of the company’s stock worth $71,435,000 after purchasing an additional 227,319 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Brookfield Renewable by 31.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 430,730 shares of the company’s stock worth $10,312,000 after purchasing an additional 102,861 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Price Performance

Brookfield Renewable stock opened at $23.53 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.83. The business’s 50 day simple moving average is $24.05 and its 200 day simple moving average is $25.71. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $36.16. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -73.52 and a beta of 1.09.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results on Friday, February 2nd. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.15. Brookfield Renewable had a return on equity of 3.67% and a net margin of 12.23%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Sell-side analysts forecast that Brookfield Renewable Co. will post -1.11 EPS for the current year.

Brookfield Renewable Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.34. Brookfield Renewable’s dividend payout ratio (DPR) is currently -443.75%.

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.