Brookfield Renewable Co. (NYSE:BEPC) Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 33.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 151,514 shares of the company's stock after purchasing an additional 38,350 shares during the quarter. Franklin Resources Inc. owned about 0.08% of Brookfield Renewable worth $4,607,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tidal Investments LLC purchased a new stake in Brookfield Renewable during the 3rd quarter worth about $747,000. Toronto Dominion Bank grew its position in Brookfield Renewable by 0.6% during the 3rd quarter. Toronto Dominion Bank now owns 95,118 shares of the company's stock worth $3,107,000 after purchasing an additional 525 shares during the last quarter. Geode Capital Management LLC increased its position in Brookfield Renewable by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,249,866 shares of the company's stock valued at $40,633,000 after acquiring an additional 25,558 shares during the period. Barclays PLC raised its stake in shares of Brookfield Renewable by 3.5% during the third quarter. Barclays PLC now owns 173,871 shares of the company's stock worth $5,678,000 after purchasing an additional 5,857 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Brookfield Renewable by 13.6% in the third quarter. National Bank of Canada FI now owns 422,955 shares of the company's stock valued at $13,814,000 after purchasing an additional 50,719 shares during the period. Hedge funds and other institutional investors own 75.12% of the company's stock.

Brookfield Renewable Trading Up 0.6 %

Shares of Brookfield Renewable stock traded up $0.18 during trading hours on Tuesday, reaching $28.66. 293,849 shares of the company's stock were exchanged, compared to its average volume of 949,763. The company has a fifty day moving average of $30.96 and a 200-day moving average of $29.92. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $35.14. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of -34.95 and a beta of 1.20.

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

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable's dividend payout ratio is currently -173.17%.

Wall Street Analysts Forecast Growth

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

Brookfield Renewable 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.