Clearbridge Investments LLC cut its stake in Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 64.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 549,240 shares of the company's stock after selling 977,192 shares during the period. Clearbridge Investments LLC owned 0.38% of Brookfield Renewable worth $15,192,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of BEPC. ClearBridge Investments Ltd lifted its stake 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 valued at $80,071,000 after purchasing an additional 686,319 shares during the period. Norges Bank purchased a new position in Brookfield Renewable during the fourth quarter valued at $47,478,000. JPMorgan Chase & Co. boosted its holdings in shares of Brookfield Renewable by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 588,262 shares of the company's stock valued at $16,271,000 after buying an additional 16,304 shares in the last quarter. Modern Wealth Management LLC grew its position in shares of Brookfield Renewable by 4.7% in the 4th quarter. Modern Wealth Management LLC now owns 13,767 shares of the company's stock worth $373,000 after buying an additional 623 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Brookfield Renewable by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company's stock worth $154,464,000 after acquiring an additional 106,880 shares in the last quarter. 75.12% of the stock is owned by institutional investors.
Brookfield Renewable Stock Down 0.2 %
Brookfield Renewable stock traded down $0.05 during trading hours on Monday, hitting $25.53. The stock had a trading volume of 1,556,860 shares, compared to its average volume of 970,788. The stock's 50-day moving average price is $27.70 and its 200-day moving average price is $29.17. The stock has a market capitalization of $3.70 billion, a P/E ratio of -28.68 and a beta of 1.16. Brookfield Renewable Co. has a 12-month low of $21.35 and a 12-month high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89.
Brookfield Renewable (NYSE:BEPC - Get Free Report) last announced its quarterly earnings results 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a $0.373 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.85%. This is a boost from Brookfield Renewable's previous quarterly dividend of $0.36. Brookfield Renewable's payout ratio is currently -167.42%.
Analyst Ratings Changes
BEPC has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Brookfield Renewable from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on Brookfield Renewable from $34.00 to $32.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Finally, Barclays assumed coverage on Brookfield Renewable in a research note on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 price objective for the company.
Read Our Latest Report on Brookfield Renewable
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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