Axa S.A. Buys 154,270 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Axa S.A. grew its position in Brookfield Renewable Co. (NYSE:BEPC) by 28.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 692,961 shares of the company’s stock after purchasing an additional 154,270 shares during the quarter. Axa S.A.’s holdings in Brookfield Renewable were worth $19,666,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gulf International Bank UK Ltd raised 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 acquired a new stake in shares of Brookfield Renewable in the fourth quarter valued at about $30,000. Abich Financial Wealth Management LLC increased its stake in shares of 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 acquired a new position in shares of Brookfield Renewable during the 2nd quarter worth about $46,000. Finally, UniSuper Management Pty Ltd boosted its stake 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 during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Price Performance

Shares of Brookfield Renewable stock opened at $32.12 on Friday. 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 company has a market cap of $5.77 billion, a PE ratio of -69.82 and a beta of 1.18. The firm has a fifty day moving average price of $28.70 and a two-hundred day moving average price of $28.01. 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 released its 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 net margin of 2.37% and a return on equity of 0.79%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Analysts expect that Brookfield Renewable Co. will post -1.02 EPS for the current year.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Friday, August 30th. Brookfield Renewable’s payout ratio is presently -308.69%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price target on Brookfield Renewable from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday.

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.