1,716,880 Shares in Brookfield Renewable Co. (NYSE:BEPC) Bought by Norges Bank

Norges Bank bought a new position in shares of Brookfield Renewable Co. (NYSE:BEPC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,716,880 shares of the company's stock, valued at approximately $47,478,000. Norges Bank owned 1.18% of Brookfield Renewable as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Cerity Partners LLC lifted its stake in Brookfield Renewable by 93.3% in the third quarter. Cerity Partners LLC now owns 18,028 shares of the company's stock valued at $589,000 after buying an additional 8,701 shares during the last quarter. Townsquare Capital LLC bought a new stake in Brookfield Renewable in the 3rd quarter valued at about $254,000. HighTower Advisors LLC lifted its position in Brookfield Renewable by 69.2% in the 3rd quarter. HighTower Advisors LLC now owns 62,298 shares of the company's stock valued at $2,031,000 after purchasing an additional 25,479 shares during the last quarter. Quarry LP acquired a new position in Brookfield Renewable during the 3rd quarter valued at about $133,000. Finally, Quadrature Capital Ltd bought a new position in Brookfield Renewable in the 3rd quarter worth about $318,000. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Price Performance

Shares of NYSE:BEPC traded up $2.26 during trading on Wednesday, reaching $26.75. The company had a trading volume of 2,222,063 shares, compared to its average volume of 980,537. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $35.14. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27. The firm has a market capitalization of $3.88 billion, a PE ratio of -30.06 and a beta of 1.16. The firm's fifty day moving average is $27.71 and its 200 day moving average is $29.05.

Brookfield Renewable (NYSE:BEPC - Get Free Report) last released its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates 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 company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a dividend of $0.373 per share. The ex-dividend date was Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 5.58%. This is a boost from Brookfield Renewable's previous quarterly dividend of $0.36. Brookfield Renewable's dividend payout ratio (DPR) is currently -167.42%.

Wall Street Analysts Forecast Growth

BEPC has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on Brookfield Renewable from $35.00 to $33.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Barclays started coverage on Brookfield Renewable in a research note on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target 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.

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.