Victory Capital Management Inc. Sells 455 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Victory Capital Management Inc. reduced its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 1.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 23,195 shares of the company’s stock after selling 455 shares during the quarter. Victory Capital Management Inc.’s holdings in Brookfield Renewable were worth $658,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Gulf International Bank UK Ltd raised its holdings in Brookfield Renewable by 161.9% during the 1st 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 during the period. Bartlett & CO. Wealth Management LLC purchased a new stake in Brookfield Renewable during the 4th quarter valued at $30,000. Abich Financial Wealth Management LLC increased its stake in Brookfield Renewable by 49.7% in 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 during the period. Beach Investment Counsel Inc. PA purchased a new stake in Brookfield Renewable in the second quarter worth $46,000. Finally, UniSuper Management Pty Ltd increased its stake in Brookfield Renewable by 111.1% in the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock worth $47,000 after purchasing an additional 1,000 shares during the period. 75.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Brookfield Renewable Price Performance

Shares of NYSE BEPC opened at $30.37 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $5.46 billion, a PE ratio of -66.02 and a beta of 1.18. The business has a 50-day simple moving average of $28.54 and a two-hundred day simple moving average of $27.86. Brookfield Renewable Co. has a fifty-two week low of $21.35 and a fifty-two week high of $32.83.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. As a group, equities analysts expect that Brookfield Renewable Co. will post -1.02 EPS 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. This represents a $1.42 annualized dividend and a yield of 4.68%. The ex-dividend date is Friday, August 30th. Brookfield Renewable’s dividend payout ratio is currently -308.70%.

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.