Geode Capital Management LLC Grows Position in Brookfield Renewable Co. (NYSE:BEPC)

Geode Capital Management LLC raised its stake in shares of Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 14.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,429,290 shares of the company's stock after acquiring an additional 179,424 shares during the period. Geode Capital Management LLC owned approximately 0.99% of Brookfield Renewable worth $39,423,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its holdings in Brookfield Renewable by 2.1% in the fourth quarter. Vontobel Holding Ltd. now owns 26,020 shares of the company's stock valued at $719,000 after acquiring an additional 542 shares during the period. Modern Wealth Management LLC boosted its holdings in shares of Brookfield Renewable by 4.7% in the fourth 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 last quarter. SeaCrest Wealth Management LLC grew its position in Brookfield Renewable by 7.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 10,013 shares of the company's stock valued at $277,000 after buying an additional 653 shares during the period. Private Advisor Group LLC increased its holdings in Brookfield Renewable by 4.3% during the fourth quarter. Private Advisor Group LLC now owns 19,265 shares of the company's stock valued at $533,000 after buying an additional 791 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in Brookfield Renewable by 6.8% in the fourth quarter. HB Wealth Management LLC now owns 13,509 shares of the company's stock worth $374,000 after acquiring an additional 864 shares during the period. Hedge funds and other institutional investors own 75.12% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on BEPC. JPMorgan Chase & Co. reduced their price objective on Brookfield Renewable from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company reduced their price target on Brookfield Renewable from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Finally, Barclays started coverage on Brookfield Renewable in a research report on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 price objective on the stock.

Brookfield Renewable Price Performance

Brookfield Renewable stock traded up $0.72 during mid-day trading on Friday, hitting $27.14. The stock had a trading volume of 974,969 shares, compared to its average volume of 976,641. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm's 50 day moving average is $27.68 and its 200 day moving average is $28.84. The firm has a market capitalization of $3.93 billion, a P/E ratio of -30.50 and a beta of 1.16. Brookfield Renewable Co. has a one year low of $21.75 and a one year high of $35.14.

Brookfield Renewable (NYSE:BEPC - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a negative return on equity of 0.06% and a negative net margin of 0.15%.

Brookfield Renewable Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a dividend of $0.373 per share. This is a positive change from Brookfield Renewable's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.50%. Brookfield Renewable's dividend payout ratio is currently -167.42%.

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.