Bank of Montreal Can Sells 66,943 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Bank of Montreal Can trimmed its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 5.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,072,234 shares of the company's stock after selling 66,943 shares during the period. Bank of Montreal Can owned approximately 0.74% of Brookfield Renewable worth $29,635,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BEPC. Robeco Schweiz AG bought a new position in Brookfield Renewable during the fourth quarter worth about $55,680,000. Norges Bank bought a new position in shares of Brookfield Renewable during the 4th quarter worth approximately $47,478,000. Parnassus Investments LLC lifted its position in shares of Brookfield Renewable by 46.6% during 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 during the period. ClearBridge Investments Ltd boosted its stake in Brookfield Renewable by 31.1% in the 4th quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company's stock valued at $80,071,000 after buying an additional 686,319 shares in the last quarter. Finally, Baillie Gifford & Co. grew its position in Brookfield Renewable by 58.5% in the fourth quarter. Baillie Gifford & Co. now owns 663,077 shares of the company's stock valued at $18,341,000 after acquiring an additional 244,706 shares during the period. 75.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Brookfield Renewable Price Performance

Shares of BEPC stock traded up $0.11 during trading hours on Wednesday, hitting $26.83. 116,910 shares of the company's stock were exchanged, compared to its average volume of 1,144,850. Brookfield Renewable Co. has a 52 week low of $21.46 and a 52 week high of $35.14. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -30.14 and a beta of 1.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.27 and a quick ratio of 0.51. The stock's 50-day moving average is $27.70 and its 200-day moving average is $28.89.

Brookfield Renewable (NYSE:BEPC - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 company 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 is an increase from Brookfield Renewable's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 5.56%. 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.