APG Asset Management N.V. Takes $2.09 Million Position in Brookfield Renewable Co. (NYSE:BEPC)

APG Asset Management N.V. purchased a new position in shares of Brookfield Renewable Co. (NYSE:BEPC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 79,246 shares of the company’s stock, valued at approximately $2,094,000.

A number of other hedge funds have also recently added to or reduced their stakes in BEPC. Gulf International Bank UK Ltd raised its stake in shares of Brookfield Renewable by 161.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock worth $29,000 after buying an additional 740 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in Brookfield Renewable during the fourth quarter worth $30,000. Abich Financial Wealth Management LLC raised its position in Brookfield Renewable by 49.7% in the first quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after acquiring an additional 592 shares in the last quarter. Beach Investment Counsel Inc. PA acquired a new stake in Brookfield Renewable in the second quarter valued at $46,000. Finally, UniSuper Management Pty Ltd boosted its position in shares of Brookfield Renewable by 111.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock worth $47,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their price objective on shares of Brookfield Renewable from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th.

Brookfield Renewable Price Performance

Shares of NYSE:BEPC opened at $32.66 on Tuesday. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $33.17. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of -71.00 and a beta of 1.18. The business’s 50 day simple moving average is $28.88 and its 200-day simple moving average is $28.17. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40.

Brookfield Renewable (NYSE:BEPC) last posted its earnings results on Friday, August 2nd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. As a group, equities analysts forecast that Brookfield Renewable Co. will post -1.02 earnings per share for the current fiscal year.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable’s payout ratio is currently -308.70%.

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.