State Street Corp Raises Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

State Street Corp grew its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,468,763 shares of the company’s stock after purchasing an additional 2,873 shares during the quarter. State Street Corp’s holdings in Brookfield Renewable were worth $47,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Brookfield Renewable by 1.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,126 shares of the company’s stock valued at $827,000 after purchasing an additional 446 shares during the period. Raymond James & Associates boosted its stake in shares of Brookfield Renewable by 2.2% in the 2nd quarter. Raymond James & Associates now owns 78,151 shares of the company’s stock valued at $2,218,000 after buying an additional 1,657 shares during the period. &PARTNERS acquired a new position in shares of Brookfield Renewable during the second quarter worth about $355,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Brookfield Renewable during the second quarter worth approximately $263,000. Finally, Dearborn Partners LLC acquired a new stake in Brookfield Renewable in the second quarter valued at approximately $443,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $27.68 on Friday. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $35.14. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market capitalization of $4.97 billion, a PE ratio of -33.76 and a beta of 1.19. The business’s fifty day moving average price is $31.05 and its 200 day moving average price is $30.00.

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

Brookfield Renewable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 5.13%. Brookfield Renewable’s payout ratio is currently -173.17%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upgraded shares of Brookfield Renewable from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $32.00 to $34.00 in a report on Thursday, December 12th.

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.