Parnassus Investments LLC Acquires 1,242,858 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Parnassus Investments LLC raised its stake in Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 46.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,910,496 shares of the company's stock after buying an additional 1,242,858 shares during the period. Parnassus Investments LLC owned approximately 2.70% of Brookfield Renewable worth $108,164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Dearborn Partners LLC grew its stake in Brookfield Renewable by 3.2% in the 3rd quarter. Dearborn Partners LLC now owns 16,100 shares of the company's stock worth $526,000 after acquiring an additional 500 shares during the period. Toronto Dominion Bank grew its position in shares of Brookfield Renewable by 0.6% in the third quarter. Toronto Dominion Bank now owns 95,118 shares of the company's stock valued at $3,107,000 after purchasing an additional 525 shares during the period. Vontobel Holding Ltd. boosted its stake in Brookfield Renewable by 2.1% in the 4th quarter. Vontobel Holding Ltd. now owns 26,020 shares of the company's stock worth $719,000 after buying an additional 542 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in Brookfield Renewable by 7.0% in the 4th 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. Finally, Private Advisor Group LLC increased its stake in shares of Brookfield Renewable by 4.3% during the 4th quarter. Private Advisor Group LLC now owns 19,265 shares of the company's stock valued at $533,000 after acquiring an additional 791 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

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Brookfield Renewable Stock Performance

Shares of BEPC stock traded up $0.26 during mid-day trading on Tuesday, reaching $28.70. The stock had a trading volume of 914,109 shares, compared to its average volume of 935,506. Brookfield Renewable Co. has a one year low of $21.35 and a one year high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89. The firm's 50 day simple moving average is $27.07 and its 200 day simple moving average is $29.25. The firm has a market cap of $4.16 billion, a PE ratio of -32.25 and a beta of 1.20.

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

Brookfield Renewable Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.373 dividend. This is an increase from Brookfield Renewable's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.20%. Brookfield Renewable's dividend payout ratio (DPR) is currently -167.42%.

Analysts Set New Price Targets

BEPC has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of 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 cut their target price on Brookfield Renewable from $35.00 to $33.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd.

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.