D. E. Shaw & Co. Inc. Cuts Stock Holdings in Brookfield Renewable Co. (NYSE:BEPC)

D. E. Shaw & Co. Inc. lowered its stake in Brookfield Renewable Co. (NYSE:BEPC) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,340 shares of the company’s stock after selling 3,018 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Brookfield Renewable were worth $480,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Brookfield Renewable by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company’s stock worth $154,464,000 after purchasing an additional 106,880 shares during the last quarter. Parnassus Investments LLC grew its stake in shares of Brookfield Renewable by 46.6% in the 4th quarter. Parnassus Investments LLC now owns 3,910,496 shares of the company’s stock worth $108,164,000 after buying an additional 1,242,858 shares in the last quarter. ClearBridge Investments Ltd increased its holdings in shares of Brookfield Renewable by 31.1% in the 4th quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company’s stock worth $80,071,000 after buying an additional 686,319 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Brookfield Renewable by 27.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company’s stock worth $62,295,000 after buying an additional 490,448 shares during the last quarter. Finally, Robeco Schweiz AG purchased a new stake in shares of Brookfield Renewable during the 4th quarter valued at about $55,680,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BEPC shares. Barclays started coverage on shares of Brookfield Renewable in a report on Wednesday, April 2nd. They issued an “equal weight” rating and a $31.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, May 5th.

Brookfield Renewable Stock Up 3.5%

Shares of BEPC stock opened at $28.91 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27. Brookfield Renewable Co. has a fifty-two week low of $23.73 and a fifty-two week high of $35.14. The firm has a market capitalization of $4.19 billion, a PE ratio of -32.48 and a beta of 1.15. The stock’s 50-day simple moving average is $27.96 and its 200-day simple moving average is $28.22.

Brookfield Renewable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Friday, May 30th. Brookfield Renewable’s dividend payout ratio is currently -167.42%.

About Brookfield Renewable

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.