Brookfield Renewable Co. (NYSE:BEPC) Shares Bought by ClearBridge Investments Ltd

ClearBridge Investments Ltd grew its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 31.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,894,836 shares of the company’s stock after purchasing an additional 686,319 shares during the period. Brookfield Renewable makes up 2.1% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 20th largest position. ClearBridge Investments Ltd owned 2.00% of Brookfield Renewable worth $80,071,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BEPC. Vanguard Group Inc. boosted its stake in Brookfield Renewable by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company’s stock worth $154,464,000 after buying an additional 106,880 shares during the period. Parnassus Investments LLC boosted its position in shares of Brookfield Renewable by 46.6% during the 4th quarter. Parnassus Investments LLC now owns 3,910,496 shares of the company’s stock worth $108,164,000 after purchasing an additional 1,242,858 shares during the period. Robeco Schweiz AG purchased a new stake in Brookfield Renewable in the fourth quarter valued at approximately $55,680,000. Norges Bank purchased a new stake in Brookfield Renewable in the fourth quarter valued at approximately $47,478,000. Finally, Geode Capital Management LLC lifted its stake in Brookfield Renewable by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,249,866 shares of the company’s stock worth $40,633,000 after purchasing an additional 25,558 shares in the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BEPC has been the subject of a number of recent research reports. Wells Fargo & Company decreased their target price on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd.

Brookfield Renewable Trading Down 0.1 %

BEPC opened at $28.00 on Friday. The business’s 50-day simple moving average is $27.43 and its 200-day simple moving average is $29.28. The company has a market cap of $4.06 billion, a P/E ratio of -31.47 and a beta of 1.20. Brookfield Renewable Co. has a one year low of $21.35 and a one year 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.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings results on Friday, January 31st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.373 per share. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a yield of 5.33%. The ex-dividend date is Friday, February 28th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -167.42%.

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.