1832 Asset Management L.P. Increases Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

1832 Asset Management L.P. grew its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 93.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,519 shares of the company’s stock after purchasing an additional 2,661 shares during the period. 1832 Asset Management L.P.’s holdings in Brookfield Renewable were worth $157,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Brookfield Renewable during the fourth quarter valued at approximately $46,787,000. TD Asset Management Inc raised its holdings in shares of Brookfield Renewable by 301.6% during the 2nd quarter. TD Asset Management Inc now owns 969,055 shares of the company’s stock worth $27,488,000 after acquiring an additional 727,780 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Brookfield Renewable by 50.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,083,864 shares of the company’s stock valued at $59,994,000 after purchasing an additional 699,739 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new stake in shares of Brookfield Renewable in the 1st quarter worth about $8,979,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Brookfield Renewable during the 2nd quarter valued at about $9,831,000. 75.12% of the stock is owned by institutional investors.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $32.12 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.40. The stock’s fifty day moving average is $28.70 and its 200 day moving average is $28.01. The firm has a market capitalization of $5.77 billion, a PE ratio of -69.82 and a beta of 1.18. Brookfield Renewable Co. has a fifty-two week low of $21.35 and a fifty-two week high of $32.83.

Brookfield Renewable (NYSE:BEPC) last released its earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. On average, sell-side analysts anticipate that Brookfield Renewable Co. will post -1.02 earnings per share for the current year.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $0.355 per share. The ex-dividend date is Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 4.42%. Brookfield Renewable’s dividend payout ratio (DPR) is presently -308.69%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price objective on Brookfield Renewable from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday.

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.