Principal Financial Group Inc. reduced its holdings in Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,179,668 shares of the company's stock after selling 32,914 shares during the period. Principal Financial Group Inc. owned approximately 2.88% of Brookfield Renewable worth $115,610,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Baillie Gifford & Co. lifted its stake in Brookfield Renewable by 58.5% in the fourth quarter. Baillie Gifford & Co. now owns 663,077 shares of the company's stock valued at $18,341,000 after buying an additional 244,706 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Brookfield Renewable by 2.1% in the 4th quarter. Vontobel Holding Ltd. now owns 26,020 shares of the company's stock valued at $719,000 after acquiring an additional 542 shares during the last quarter. Investment Partners Asset Management Inc. raised its position in shares of Brookfield Renewable by 7.8% in the 4th quarter. Investment Partners Asset Management Inc. now owns 49,617 shares of the company's stock valued at $1,372,000 after acquiring an additional 3,608 shares during the period. Van ECK Associates Corp boosted its stake in Brookfield Renewable by 4.0% during the 4th quarter. Van ECK Associates Corp now owns 120,029 shares of the company's stock worth $3,348,000 after acquiring an additional 4,572 shares during the last quarter. Finally, Spirit of America Management Corp NY boosted its stake in Brookfield Renewable by 87.0% during the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company's stock worth $59,000 after acquiring an additional 1,000 shares during the last quarter. 75.12% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on BEPC shares. Wells Fargo & Company cut their target price on shares of Brookfield Renewable from $35.00 to $33.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target 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.
View Our Latest Stock Report on BEPC
Brookfield Renewable Stock Performance
Shares of Brookfield Renewable stock traded down $0.34 during trading on Friday, reaching $29.02. The company's stock had a trading volume of 736,767 shares, compared to its average volume of 1,148,420. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $35.14. The business's 50-day moving average price is $27.24 and its 200-day moving average price is $29.24. The firm has a market cap of $4.20 billion, a PE ratio of -32.61 and a beta of 1.22. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89.
Brookfield Renewable (NYSE:BEPC - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Renewable's previous quarterly dividend of $0.36. Brookfield Renewable's payout ratio is presently -159.55%.
Brookfield Renewable Company Profile
(
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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