Envestnet Asset Management Inc. Grows Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

Envestnet Asset Management Inc. boosted its position in Brookfield Renewable Co. (NYSE:BEPC) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 586,602 shares of the company’s stock after purchasing an additional 41,542 shares during the quarter. Envestnet Asset Management Inc. owned about 0.40% of Brookfield Renewable worth $16,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Brookfield Renewable by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company’s stock valued at $154,464,000 after purchasing an additional 106,880 shares during the last quarter. Parnassus Investments LLC grew its holdings in shares of Brookfield Renewable by 46.6% during the fourth quarter. Parnassus Investments LLC now owns 3,910,496 shares of the company’s stock valued at $108,164,000 after buying an additional 1,242,858 shares during the last quarter. ClearBridge Investments Ltd lifted its stake in Brookfield Renewable by 31.1% during the 4th quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company’s stock valued at $80,071,000 after acquiring an additional 686,319 shares during the period. Robeco Schweiz AG purchased a new position in shares of Brookfield Renewable during the 4th quarter worth $55,680,000. Finally, Norges Bank purchased a new position in shares of Brookfield Renewable during the 4th quarter valued at about $47,478,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on BEPC shares. Wells Fargo & Company lowered their price target on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays assumed coverage on Brookfield Renewable in a research note on Wednesday, April 2nd. They issued an “equal weight” rating and a $31.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd.

Brookfield Renewable Stock Down 0.7 %

Shares of BEPC opened at $26.72 on Wednesday. The stock’s 50-day moving average price is $27.70 and its 200-day moving average price is $28.89. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of -30.03 and a beta of 1.16. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $35.14.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings data on Friday, January 31st. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a negative net margin of 0.15% and a negative return on equity of 0.06%.

Brookfield Renewable Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 5.58%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, February 28th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

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.