Creative Planning Trims Stock Holdings in Brookfield Renewable Co. (NYSE:BEPC)

Creative Planning reduced its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 26.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,458 shares of the company’s stock after selling 3,692 shares during the period. Creative Planning’s holdings in Brookfield Renewable were worth $297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in Brookfield Renewable by 67.1% during the 1st quarter. Russell Investments Group Ltd. now owns 206,733 shares of the company’s stock worth $5,079,000 after purchasing an additional 83,003 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Brookfield Renewable by 16.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 176,654 shares of the company’s stock valued at $4,340,000 after acquiring an additional 25,584 shares during the period. AMF Tjanstepension AB acquired a new stake in shares of Brookfield Renewable during the 1st quarter valued at about $6,883,000. Fifth Lane Capital LP acquired a new stake in shares of Brookfield Renewable during the 1st quarter valued at about $1,616,000. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Brookfield Renewable by 51.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 151,868 shares of the company’s stock valued at $3,700,000 after acquiring an additional 51,372 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $32.47 on Friday. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $33.17. The stock has a 50 day moving average of $29.72 and a two-hundred day moving average of $28.76. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87. The firm has a market cap of $5.83 billion, a P/E ratio of -70.59 and a beta of 1.19.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.28) EPS 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 firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. On average, 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 disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.355 per share. The ex-dividend date was Friday, August 30th. This represents a $1.42 annualized dividend and a yield of 4.37%. Brookfield Renewable’s dividend payout ratio (DPR) is currently -308.70%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. dropped their target price on Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday.

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.