Geode Capital Management LLC Boosts Holdings in Brookfield Renewable Co. (NYSE:BEPC)

Geode Capital Management LLC increased its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 2.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,249,866 shares of the company's stock after acquiring an additional 25,558 shares during the period. Geode Capital Management LLC owned about 0.70% of Brookfield Renewable worth $40,633,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BEPC. Harvest Portfolios Group Inc. increased its stake in Brookfield Renewable by 15.0% in 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. Bank of Montreal Can increased its stake in Brookfield Renewable by 1.4% in the 3rd quarter. Bank of Montreal Can now owns 1,139,177 shares of the company's stock worth $37,444,000 after buying an additional 16,033 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Brookfield Renewable by 17.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 181,310 shares of the company's stock valued at $5,922,000 after buying an additional 27,550 shares in the last quarter. Pacifica Partners Inc. boosted its position in Brookfield Renewable by 105.1% in the 3rd quarter. Pacifica Partners Inc. now owns 58,698 shares of the company's stock valued at $1,920,000 after buying an additional 30,080 shares during the period. Finally, Intech Investment Management LLC grew its stake in Brookfield Renewable by 135.3% in the 3rd quarter. Intech Investment Management LLC now owns 103,699 shares of the company's stock worth $3,390,000 after acquiring an additional 59,630 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company's stock.

Wall Street Analysts Forecast Growth

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

Brookfield Renewable Stock Up 0.6 %

Shares of BEPC traded up $0.18 during midday trading on Wednesday, reaching $28.66. 293,849 shares of the stock were exchanged, compared to its average volume of 949,763. The company has a market capitalization of $5.15 billion, a P/E ratio of -34.95 and a beta of 1.20. 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 company's 50 day moving average is $30.88 and its two-hundred day moving average is $29.91.

Brookfield Renewable (NYSE:BEPC - Get Free Report) last issued its 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). 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 the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company earned ($0.14) earnings per share. On average, sell-side analysts anticipate that Brookfield Renewable Co. will post -1.04 earnings per share for the current year.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.355 per share. The ex-dividend date is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 4.95%. Brookfield Renewable's dividend payout ratio (DPR) is presently -173.17%.

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.