ClearBridge Investments Ltd raised its stake in Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 31.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,894,836 shares of the company's stock after purchasing an additional 686,319 shares during the quarter. Brookfield Renewable comprises approximately 2.1% of ClearBridge Investments Ltd's holdings, making the stock its 20th biggest holding. ClearBridge Investments Ltd owned approximately 2.00% of Brookfield Renewable worth $80,071,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Curio Wealth LLC acquired a new position in Brookfield Renewable in the fourth quarter valued at $26,000. Atala Financial Inc acquired a new position in shares of Brookfield Renewable in the 4th quarter valued at about $27,000. Spirit of America Management Corp NY grew its holdings in shares of Brookfield Renewable by 87.0% during the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company's stock worth $59,000 after purchasing an additional 1,000 shares during the period. Signaturefd LLC increased its position in Brookfield Renewable by 58.8% during the 4th quarter. Signaturefd LLC now owns 3,480 shares of the company's stock worth $96,000 after purchasing an additional 1,288 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Brookfield Renewable by 99.7% in the fourth quarter. IFP Advisors Inc now owns 4,711 shares of the company's stock valued at $130,000 after buying an additional 2,352 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.
Brookfield Renewable Stock Up 1.4 %
Shares of BEPC stock traded up $0.40 on Thursday, hitting $28.87. The stock had a trading volume of 753,505 shares, compared to its average volume of 957,986. The stock's 50 day moving average is $27.62 and its 200-day moving average is $29.25. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -32.44 and a beta of 1.20. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $35.14. 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 (NYSE:BEPC - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported ($0.06) EPS for the quarter, beating 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a $0.373 dividend. This is an increase from Brookfield Renewable's previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date was Friday, February 28th. Brookfield Renewable's dividend payout ratio (DPR) is presently -167.42%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on BEPC shares. Wells Fargo & Company dropped their price objective on shares of Brookfield Renewable from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Barclays assumed coverage on Brookfield Renewable in a research report on Wednesday. They issued an "equal weight" rating and a $31.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price 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.
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About Brookfield Renewable
(
Free Report)
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.
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