HighTower Advisors LLC Sells 865 Shares of Brookfield Renewable Co. (NYSE:BEPC)

HighTower Advisors LLC cut its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 61,433 shares of the company’s stock after selling 865 shares during the period. HighTower Advisors LLC’s holdings in Brookfield Renewable were worth $1,700,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BEPC. Truvestments Capital LLC purchased a new stake in Brookfield Renewable in the 3rd quarter worth about $31,000. Spirit of America Management Corp NY raised its position in Brookfield Renewable by 87.0% in the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock worth $59,000 after purchasing an additional 1,000 shares during the period. Quarry LP purchased a new stake in Brookfield Renewable in the 3rd quarter worth about $133,000. IFP Advisors Inc raised its position in Brookfield Renewable by 99.7% in the 4th quarter. IFP Advisors Inc now owns 4,711 shares of the company’s stock worth $130,000 after purchasing an additional 2,352 shares during the period. Finally, US Bancorp DE raised its position in Brookfield Renewable by 84.3% in the 4th quarter. US Bancorp DE now owns 5,606 shares of the company’s stock worth $155,000 after purchasing an additional 2,565 shares during the period. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Price Performance

Shares of BEPC stock opened at $29.39 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.27 and a quick ratio of 0.51. The company has a market capitalization of $4.26 billion, a P/E ratio of -33.02 and a beta of 1.20. The company’s 50-day simple moving average is $27.17 and its two-hundred day simple moving average is $29.27. Brookfield Renewable Co. has a one year low of $21.35 and a one year high of $35.14.

Brookfield Renewable (NYSE:BEPC) last issued its earnings results on Friday, January 31st. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a negative net margin of 0.15% and a negative return on equity of 0.06%.

Brookfield Renewable Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.373 dividend. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Friday, February 28th. Brookfield Renewable’s dividend payout ratio is currently -167.42%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BEPC. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd.

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.