Short Interest in Brookfield Renewable Co. (NYSE:BEPC) Expands By 8.6%

Brookfield Renewable Co. (NYSE:BEPC) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 6,290,000 shares, a growth of 8.6% from the August 15th total of 5,790,000 shares. Based on an average daily trading volume, of 814,400 shares, the days-to-cover ratio is currently 7.7 days.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Brookfield Renewable

A number of large investors have recently modified their holdings of the stock. Gulf International Bank UK Ltd boosted its holdings in Brookfield Renewable by 161.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock worth $29,000 after acquiring an additional 740 shares during the period. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Brookfield Renewable during the fourth quarter valued at approximately $30,000. Abich Financial Wealth Management LLC lifted its position in shares of Brookfield Renewable by 49.7% during the first quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after purchasing an additional 592 shares in the last quarter. Beach Investment Counsel Inc. PA purchased a new position in shares of Brookfield Renewable in the second quarter valued at $46,000. Finally, UniSuper Management Pty Ltd grew its holdings in Brookfield Renewable by 111.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock valued at $47,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Trading Up 0.0 %

NYSE BEPC traded up $0.01 during mid-day trading on Wednesday, hitting $30.20. The company’s stock had a trading volume of 771,018 shares, compared to its average volume of 954,290. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. Brookfield Renewable has a 52-week low of $21.35 and a 52-week high of $32.83. The stock’s fifty day simple moving average is $28.58 and its two-hundred day simple moving average is $27.73. The firm has a market capitalization of $5.43 billion, a P/E ratio of -65.98 and a beta of 1.18.

Brookfield Renewable (NYSE:BEPC) last issued its earnings results on Friday, August 2nd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.51 billion. Research analysts expect that Brookfield Renewable 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. This represents a $1.42 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable’s payout ratio is -308.70%.

Brookfield Renewable Company 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.