Brookfield Renewable Co. (NYSE:BEPC) Short Interest Down 12.4% in March

Brookfield Renewable Co. (NYSE:BEPC) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 5,670,000 shares, a drop of 12.4% from the February 28th total of 6,470,000 shares. Approximately 3.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,010,000 shares, the short-interest ratio is presently 5.6 days.

Brookfield Renewable Trading Up 2.4 %

NYSE BEPC opened at $28.60 on Wednesday. Brookfield Renewable has a 52 week low of $21.35 and a 52 week high of $35.14. The firm has a 50 day moving average of $27.55 and a two-hundred day moving average of $29.26. The stock has a market capitalization of $4.14 billion, a PE ratio of -32.13 and a beta of 1.20. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89.

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

Brookfield Renewable Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BEPC shares. Wells Fargo & Company reduced their price objective on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd.

Institutional Investors Weigh In On Brookfield Renewable

Several institutional investors have recently added to or reduced their stakes in the business. Cerity Partners LLC raised its holdings in Brookfield Renewable by 93.3% during the third quarter. Cerity Partners LLC now owns 18,028 shares of the company’s stock worth $589,000 after purchasing an additional 8,701 shares in the last quarter. Townsquare Capital LLC acquired a new stake in Brookfield Renewable during the 3rd quarter worth $254,000. Glenmede Trust Co. NA purchased a new stake in Brookfield Renewable in the third quarter valued at $535,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Brookfield Renewable by 2.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,011 shares of the company’s stock valued at $3,302,000 after acquiring an additional 2,017 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Brookfield Renewable by 16.5% during the third quarter. Rockefeller Capital Management L.P. now owns 231,990 shares of the company’s stock worth $7,577,000 after purchasing an additional 32,897 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

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.