Brookfield Renewable (NYSE:BEPC) Stock Price Up 8.6% - Here's What Happened

Brookfield Renewable Co. (NYSE:BEPC - Get Free Report) shares rose 8.6% during mid-day trading on Wednesday . The stock traded as high as $32.56 and last traded at $32.41. Approximately 748,398 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 938,651 shares. The stock had previously closed at $29.85.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price objective on shares of Brookfield Renewable from $33.00 to $34.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th.

Brookfield Renewable Stock Up 9.7 %

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $5.88 billion, a PE ratio of -69.83 and a beta of 1.19. The business's 50 day moving average is $29.52 and its 200-day moving average is $28.71.

Brookfield Renewable (NYSE:BEPC - Get Free Report) last posted its earnings results on Friday, August 2nd. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. As a group, analysts predict that Brookfield Renewable Co. will post -1.02 EPS for the current year.

Brookfield Renewable Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.355 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.42 annualized dividend and a yield of 4.34%. Brookfield Renewable's dividend payout ratio (DPR) is -308.70%.

Hedge Funds Weigh In On Brookfield Renewable

A number of hedge funds and other institutional investors have recently made changes to their positions in BEPC. Vanguard Group Inc. grew its position in Brookfield Renewable by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 5,244,258 shares of the company's stock valued at $128,851,000 after buying an additional 47,139 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Brookfield Renewable by 1.7% in the second quarter. Principal Financial Group Inc. now owns 4,757,977 shares of the company's stock valued at $135,031,000 after acquiring an additional 80,350 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Brookfield Renewable by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company's stock worth $59,359,000 after acquiring an additional 191,550 shares during the period. Epoch Investment Partners Inc. raised 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 purchasing an additional 1,898,258 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in Brookfield Renewable by 13.3% in the second quarter. Clearbridge Investments LLC now owns 1,556,531 shares of the company's stock valued at $44,179,000 after purchasing an additional 182,717 shares during the period. Hedge funds and other institutional investors own 75.12% of the company's stock.

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.

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