ClearBridge Investments Ltd Has $47.55 Million Position in Brookfield Renewable Co. (NYSE:BEPC)

ClearBridge Investments Ltd cut its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,675,418 shares of the company’s stock after selling 53,256 shares during the quarter. Brookfield Renewable accounts for 1.4% of ClearBridge Investments Ltd’s portfolio, making the stock its 19th biggest holding. ClearBridge Investments Ltd owned approximately 0.93% of Brookfield Renewable worth $47,548,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parnassus Investments LLC raised its stake in shares of Brookfield Renewable by 182.9% in the 4th quarter. Parnassus Investments LLC now owns 6,491,404 shares of the company’s stock valued at $186,888,000 after buying an additional 4,196,415 shares in the last quarter. Vanguard Group Inc. lifted its stake in Brookfield Renewable by 0.9% during the first quarter. Vanguard Group Inc. now owns 5,244,258 shares of the company’s stock worth $128,851,000 after purchasing an additional 47,139 shares during the period. Principal Financial Group Inc. boosted its holdings in Brookfield Renewable by 1.7% during the second quarter. Principal Financial Group Inc. now owns 4,757,977 shares of the company’s stock valued at $135,031,000 after purchasing an additional 80,350 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Brookfield Renewable by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock valued at $59,359,000 after purchasing an additional 191,550 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Brookfield Renewable by 50.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 2,083,864 shares of the company’s stock worth $59,994,000 after buying an additional 699,739 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Trading Up 0.7 %

Shares of BEPC stock opened at $30.37 on Monday. The company has a market capitalization of $5.46 billion, a P/E ratio of -66.02 and a beta of 1.18. Brookfield Renewable Co. has a 12-month low of $21.35 and a 12-month high of $32.83. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average price of $28.54 and a 200 day moving average price of $27.86.

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

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.355 per share. The ex-dividend date is Friday, August 30th. This represents a $1.42 annualized dividend and a yield of 4.68%. Brookfield Renewable’s dividend payout ratio (DPR) is -308.70%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped 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.

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.