Intech Investment Management LLC Sells 17,605 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Intech Investment Management LLC trimmed its position in Brookfield Renewable Co. (NYSE:BEPC) by 28.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,069 shares of the company’s stock after selling 17,605 shares during the quarter. Intech Investment Management LLC’s holdings in Brookfield Renewable were worth $1,248,000 at the end of the most recent quarter.

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

Brookfield Renewable Stock Performance

Brookfield Renewable stock opened at $31.63 on Wednesday. Brookfield Renewable Co. has a fifty-two week low of $21.35 and a fifty-two week high of $32.83. 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 stock has a market cap of $5.68 billion, a P/E ratio of -68.75 and a beta of 1.18. The firm’s fifty day moving average price is $28.58 and its 200-day moving average price is $27.95.

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). Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. On average, equities research analysts expect that Brookfield Renewable Co. will post -1.02 earnings per share for the current fiscal year.

Brookfield Renewable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $0.355 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a yield of 4.49%. Brookfield Renewable’s payout ratio is -308.70%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted 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 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.