Parnassus Investments LLC Acquires 94,710 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Parnassus Investments LLC lifted its stake in Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 3.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,667,638 shares of the company's stock after purchasing an additional 94,710 shares during the quarter. Parnassus Investments LLC owned 1.48% of Brookfield Renewable worth $87,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in BEPC. Russell Investments Group Ltd. grew its stake in Brookfield Renewable by 67.1% in the first quarter. Russell Investments Group Ltd. now owns 206,733 shares of the company's stock valued at $5,079,000 after purchasing an additional 83,003 shares in the last quarter. Harvest Portfolios Group Inc. grew its stake in shares of Brookfield Renewable by 15.0% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company's stock valued at $9,733,000 after buying an additional 38,853 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Brookfield Renewable by 51.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 151,868 shares of the company's stock worth $3,700,000 after buying an additional 51,372 shares during the last quarter. Toronto Dominion Bank raised its position in Brookfield Renewable by 57.0% during the first quarter. Toronto Dominion Bank now owns 96,910 shares of the company's stock valued at $2,381,000 after acquiring an additional 35,192 shares in the last quarter. Finally, Asset Management Advisors LLC bought a new position in Brookfield Renewable during the second quarter valued at approximately $2,377,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Stock Up 2.2 %

Shares of NYSE:BEPC traded up $0.67 on Tuesday, reaching $30.72. The company had a trading volume of 1,373,845 shares, compared to its average volume of 962,043. The stock has a market capitalization of $5.52 billion, a P/E ratio of -36.65 and a beta of 1.20. The stock has a 50-day moving average price of $31.21 and a 200 day moving average price of $30.07. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89.

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). Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm posted ($0.14) earnings per share. On average, equities analysts expect that Brookfield Renewable Co. will post -1.04 EPS for the current year.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.355 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 4.62%. Brookfield Renewable's dividend payout ratio (DPR) is presently -173.17%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. dropped their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Thursday, October 17th.

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.