Fmr LLC Reduces Position in Brookfield Renewable Co. (NYSE:BEPC)

Fmr LLC lowered its stake in Brookfield Renewable Co. (NYSE:BEPC) by 17.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,665,100 shares of the company’s stock after selling 778,305 shares during the quarter. Fmr LLC owned about 2.04% of Brookfield Renewable worth $119,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BEPC. Price T Rowe Associates Inc. MD increased its stake in Brookfield Renewable by 13.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,171 shares of the company’s stock worth $840,000 after purchasing an additional 4,065 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Brookfield Renewable during the first quarter worth approximately $250,000. CWM LLC increased its stake in shares of Brookfield Renewable by 9.5% during the second quarter. CWM LLC now owns 4,069 shares of the company’s stock worth $115,000 after buying an additional 353 shares during the period. A. D. Beadell Investment Counsel Inc. purchased a new stake in shares of Brookfield Renewable during the second quarter worth approximately $234,000. Finally, Asset Management Advisors LLC purchased a new stake in shares of Brookfield Renewable during the second quarter worth approximately $2,377,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th.

Brookfield Renewable Stock Down 2.5 %

BEPC stock opened at $30.90 on Thursday. The company’s 50 day moving average price is $31.57 and its 200 day moving average price is $30.16. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.51. Brookfield Renewable Co. has a fifty-two week low of $21.35 and a fifty-two week high of $35.14. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of -37.68 and a beta of 1.19.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. During the same quarter in the prior year, the company earned ($0.14) earnings per share. On average, equities research analysts anticipate that Brookfield Renewable Co. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 4.60%. Brookfield Renewable’s dividend payout ratio is currently -173.17%.

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.