Brookfield Renewable (NYSE:BEPC) Shares Gap Up After Strong Earnings

Shares of Brookfield Renewable Co. (NYSE:BEPC - Get Free Report) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $25.51, but opened at $26.44. Brookfield Renewable shares last traded at $26.00, with a volume of 129,416 shares traded.

The company reported ($0.06) earnings per share for the quarter, topping 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued 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 yield of 5.66%. The ex-dividend date is Friday, February 28th. Brookfield Renewable's payout ratio is currently -159.55%.

Wall Street Analyst Weigh In

BEPC has been the subject of a number of research reports. Wells Fargo & Company lowered their target price on Brookfield Renewable from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd.

Institutional Investors Weigh In On Brookfield Renewable

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC grew its position in Brookfield Renewable by 55.8% during the 4th quarter. Green Alpha Advisors LLC now owns 138,976 shares of the company's stock worth $3,844,000 after purchasing an additional 49,748 shares during the last quarter. Harvest Portfolios Group Inc. lifted its holdings in shares of Brookfield Renewable by 15.0% during the third quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company's stock worth $9,733,000 after purchasing an additional 38,853 shares during the period. A. D. Beadell Investment Counsel Inc. increased its stake in shares of Brookfield Renewable by 252.7% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 44,265 shares of the company's stock worth $1,224,000 after acquiring an additional 31,715 shares during the period. Bank of Montreal Can grew its position in Brookfield Renewable by 1.4% during the 3rd quarter. Bank of Montreal Can now owns 1,139,177 shares of the company's stock worth $37,444,000 after purchasing an additional 16,033 shares during the period. Finally, Avanza Fonder AB purchased a new stake in shares of Brookfield Renewable in the fourth quarter worth about $287,000. Institutional investors own 75.12% of the company's stock.

Brookfield Renewable Stock Performance

The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -29.63 and a beta of 1.22. The firm has a fifty day moving average of $28.11 and a 200 day moving average of $29.31. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51.

Brookfield Renewable Company Profile

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.