Franklin Resources Inc. Has $4.61 Million Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

Franklin Resources Inc. increased its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 33.9% in the third quarter, Holdings Channel reports. The firm owned 151,514 shares of the company’s stock after buying an additional 38,350 shares during the quarter. Franklin Resources Inc.’s holdings in Brookfield Renewable were worth $4,607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hexagon Capital Partners LLC grew its position in shares of Brookfield Renewable by 468.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after buying an additional 623 shares during the period. Truvestments Capital LLC acquired a new position in Brookfield Renewable during the third quarter valued at approximately $31,000. Signaturefd LLC increased its stake in Brookfield Renewable by 250.7% in the third quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock valued at $72,000 after purchasing an additional 1,567 shares in the last quarter. US Bancorp DE raised its holdings in Brookfield Renewable by 99.4% in the third quarter. US Bancorp DE now owns 3,041 shares of the company’s stock worth $99,000 after purchasing an additional 1,516 shares during the period. Finally, Quarry LP bought a new position in shares of Brookfield Renewable during the third quarter worth $133,000. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Trading Up 0.6 %

NYSE:BEPC opened at $28.48 on Tuesday. 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 business’s 50-day simple moving average is $31.02 and its 200-day simple moving average is $29.95. Brookfield Renewable Co. has a fifty-two week low of $21.35 and a fifty-two week high of $35.14. The stock has a market capitalization of $5.12 billion, a PE ratio of -34.73 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) earnings per share 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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm posted ($0.14) EPS. Sell-side analysts expect that Brookfield Renewable Co. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Announces Dividend

The company 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. This represents a $1.42 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable’s dividend payout ratio is -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 upped their price objective for the company from $32.00 to $34.00 in a research report on Thursday, December 12th.

Brookfield Renewable 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.