Sequoia Financial Advisors LLC Takes Position in Brookfield Renewable Co. (NYSE:BEPC)

Sequoia Financial Advisors LLC bought a new position in shares of Brookfield Renewable Co. (NYSE:BEPC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 67,604 shares of the company’s stock, valued at approximately $2,208,000.

Several other institutional investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its stake in shares of 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 position in Brookfield Renewable in the 1st quarter worth about $6,883,000. Fifth Lane Capital LP purchased a new position in Brookfield Renewable during the first quarter worth approximately $1,616,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Brookfield Renewable by 51.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 151,868 shares of the company’s stock valued at $3,700,000 after purchasing an additional 51,372 shares during the period. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th.

Brookfield Renewable Trading Down 2.5 %

Shares of Brookfield Renewable stock opened at $33.45 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $35.14. The firm has a market capitalization of $6.01 billion, a PE ratio of -72.72 and a beta of 1.19. The firm’s 50-day moving average price is $30.23 and its 200 day moving average price is $29.06.

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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. On average, sell-side analysts predict that Brookfield Renewable Co. will post -1.02 EPS for the current fiscal year.

Brookfield Renewable Announces Dividend

The firm also recently announced 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 4.25%. Brookfield Renewable’s dividend payout ratio (DPR) is presently -308.70%.

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.