HighTower Advisors LLC lifted its position in shares of Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 69.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,298 shares of the company's stock after purchasing an additional 25,479 shares during the period. HighTower Advisors LLC's holdings in Brookfield Renewable were worth $2,031,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Epoch Investment Partners Inc. increased its holdings in Brookfield Renewable by 4,491.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,940,525 shares of the company's stock worth $55,072,000 after buying an additional 1,898,258 shares during the last quarter. TD Asset Management Inc increased its holdings in Brookfield Renewable by 301.6% during the second quarter. TD Asset Management Inc now owns 969,055 shares of the company's stock worth $27,488,000 after buying an additional 727,780 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Brookfield Renewable by 26.0% during the third quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company's stock worth $81,291,000 after buying an additional 504,060 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Brookfield Renewable during the second quarter worth about $9,831,000. Finally, Envestnet Asset Management Inc. increased its holdings in Brookfield Renewable by 66.5% during the second quarter. Envestnet Asset Management Inc. now owns 539,696 shares of the company's stock worth $15,317,000 after buying an additional 215,592 shares during the last quarter. 75.12% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. upgraded shares of Brookfield Renewable from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $32.00 to $34.00 in a report on Thursday.
Check Out Our Latest Analysis on BEPC
Brookfield Renewable Stock Performance
Shares of BEPC traded up $0.19 during trading hours on Friday, hitting $29.75. The company's stock had a trading volume of 669,196 shares, compared to its average volume of 959,760. The company has a market cap of $5.34 billion, a price-to-earnings ratio of -36.28 and a beta of 1.19. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51. The business has a 50 day simple moving average of $31.20 and a two-hundred day simple moving average of $30.06. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $35.14.
Brookfield Renewable (NYSE:BEPC - Get Free Report) last posted its earnings results on Friday, November 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.37 billion. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. During the same quarter in the previous year, the business earned ($0.14) EPS. On average, equities analysts expect that Brookfield Renewable Co. will post -1.04 earnings per share for the current fiscal year.
Brookfield Renewable Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.77%. Brookfield Renewable's dividend payout ratio (DPR) is currently -173.17%.
Brookfield Renewable Company Profile
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Free Report)
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.
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