Principal Financial Group Inc. Has $137.58 Million Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

Principal Financial Group Inc. reduced its holdings in Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 11.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,212,582 shares of the company's stock after selling 545,395 shares during the period. Principal Financial Group Inc. owned 2.35% of Brookfield Renewable worth $137,583,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC boosted its holdings in shares of Brookfield Renewable by 468.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company's stock valued at $25,000 after buying an additional 623 shares during the last quarter. Truvestments Capital LLC bought a new stake in Brookfield Renewable during the third quarter worth $31,000. Signaturefd LLC lifted its stake in Brookfield Renewable by 250.7% in the third quarter. Signaturefd LLC now owns 2,192 shares of the company's stock valued at $72,000 after acquiring an additional 1,567 shares during the last quarter. US Bancorp DE grew its position in shares of Brookfield Renewable by 99.4% in the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company's stock valued at $99,000 after acquiring an additional 1,516 shares during the period. Finally, Quarry LP acquired a new position in shares of Brookfield Renewable during the 3rd quarter worth about $133,000. 75.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upgraded shares of Brookfield Renewable from a "neutral" rating to an "overweight" rating and raised their target price for the company from $32.00 to $34.00 in a research note on Thursday, December 12th.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC traded up $0.62 during midday trading on Friday, hitting $28.30. 784,872 shares of the company's stock were exchanged, compared to its average volume of 953,991. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $5.08 billion, a PE ratio of -34.51 and a beta of 1.19. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $35.14. The company's 50 day moving average price is $31.02 and its 200 day moving average price is $29.98.

Brookfield Renewable (NYSE:BEPC - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.37 billion. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. During the same period in the prior year, the business earned ($0.14) EPS. As a group, analysts predict that Brookfield Renewable Co. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.355 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 5.02%. Brookfield Renewable's dividend payout ratio (DPR) is currently -173.17%.

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.