Short Interest in Brookfield Renewable Co. (NYSE:BEPC) Drops By 6.8%

Brookfield Renewable Co. (NYSE:BEPC) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 7,560,000 shares, a decrease of 6.8% from the May 31st total of 8,110,000 shares. Based on an average daily volume of 985,300 shares, the days-to-cover ratio is currently 7.7 days.

Institutional Trading of Brookfield Renewable

Large investors have recently bought and sold shares of the business. Macroview Investment Management LLC acquired a new stake in Brookfield Renewable in the fourth quarter valued at about $29,000. Bartlett & Co. LLC acquired a new stake in Brookfield Renewable in the fourth quarter valued at about $29,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Brookfield Renewable in the fourth quarter valued at about $30,000. Gulf International Bank UK Ltd boosted its stake in Brookfield Renewable by 161.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock valued at $29,000 after buying an additional 740 shares in the last quarter. Finally, HBC Financial Services PLLC acquired a new stake in Brookfield Renewable in the fourth quarter valued at about $43,000. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Stock Performance

BEPC opened at $28.67 on Thursday. The firm has a market cap of $5.15 billion, a P/E ratio of -62.32 and a beta of 1.18. Brookfield Renewable has a 52-week low of $21.35 and a 52-week high of $32.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.39 and a current ratio of 0.39. The business’s fifty day moving average is $29.76 and its 200-day moving average is $27.29.

Brookfield Renewable (NYSE:BEPC) last released its earnings results on Friday, May 3rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.05). The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable had a return on equity of 2.19% and a net margin of 7.10%. Sell-side analysts expect that Brookfield Renewable will post -0.99 EPS for the current fiscal year.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 4.95%. The ex-dividend date was Friday, May 31st. Brookfield Renewable’s dividend payout ratio (DPR) is currently -308.69%.

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.