Procyon Advisors LLC Grows Position in Brookfield Renewable Co. (NYSE:BEPC)

Procyon Advisors LLC lifted its stake in Brookfield Renewable Co. (NYSE:BEPC) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,232 shares of the company’s stock after buying an additional 704 shares during the quarter. Procyon Advisors LLC’s holdings in Brookfield Renewable were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BEPC. CWM LLC increased its position in Brookfield Renewable by 9.5% in the second quarter. CWM LLC now owns 4,069 shares of the company’s stock worth $115,000 after purchasing an additional 353 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position 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 worth $827,000 after purchasing an additional 446 shares during the last quarter. Smith Salley Wealth Management increased its position in Brookfield Renewable by 2.2% in the second quarter. Smith Salley Wealth Management now owns 26,470 shares of the company’s stock worth $751,000 after purchasing an additional 563 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Brookfield Renewable by 49.7% in the first quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after purchasing an additional 592 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Brookfield Renewable by 10.2% in the first quarter. Lazard Asset Management LLC now owns 6,465 shares of the company’s stock worth $158,000 after purchasing an additional 597 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Trading Down 1.4 %

BEPC stock opened at $29.85 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.87. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $33.17. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of -64.88 and a beta of 1.19. The firm’s fifty day simple moving average is $29.52 and its two-hundred day simple moving average is $28.71.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. As a group, analysts anticipate that Brookfield Renewable Co. will post -1.02 earnings per share for the current year.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Friday, August 30th. Brookfield Renewable’s payout ratio is presently -308.70%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price target on shares of Brookfield Renewable from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th.

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.