Allspring Global Investments Holdings LLC Sells 34,927 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC) by 86.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,455 shares of the company’s stock after selling 34,927 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Brookfield Renewable were worth $155,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Truist Financial Corp grew its stake in shares of Brookfield Renewable by 19.8% during the fourth quarter. Truist Financial Corp now owns 14,937 shares of the company’s stock valued at $430,000 after buying an additional 2,464 shares during the last quarter. Gilbert & Cook Inc. increased its stake in Brookfield Renewable by 37.4% in the 4th quarter. Gilbert & Cook Inc. now owns 11,754 shares of the company’s stock worth $338,000 after purchasing an additional 3,199 shares during the period. Victory Capital Management Inc. bought a new stake in Brookfield Renewable in the fourth quarter valued at approximately $695,000. Natixis Advisors L.P. boosted its stake in shares of Brookfield Renewable by 53.6% during the fourth quarter. Natixis Advisors L.P. now owns 36,361 shares of the company’s stock valued at $1,046,000 after purchasing an additional 12,685 shares during the period. Finally, Private Advisor Group LLC bought a new position in shares of Brookfield Renewable in the fourth quarter worth approximately $290,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their price target on shares of Brookfield Renewable from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th.

Brookfield Renewable Stock Down 2.9 %

Shares of NYSE:BEPC opened at $27.67 on Friday. Brookfield Renewable Co. has a 1 year low of $21.35 and a 1 year high of $32.83. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s 50-day moving average is $28.50 and its 200 day moving average is $27.47. The company has a market cap of $4.97 billion, a PE ratio of -60.15 and a beta of 1.18.

Brookfield Renewable (NYSE:BEPC) last posted its earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Sell-side analysts anticipate that Brookfield Renewable Co. will post -1.02 EPS for the current year.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.355 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.13%. Brookfield Renewable’s dividend payout ratio is -308.70%.

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.