The Manufacturers Life Insurance Company Has $12.96 Million Stock Holdings in Brookfield Renewable Co. (NYSE:BEPC)

The Manufacturers Life Insurance Company reduced its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 23.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 396,751 shares of the company’s stock after selling 124,707 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.22% of Brookfield Renewable worth $12,963,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Epoch Investment Partners Inc. lifted its position in shares of Brookfield Renewable by 4,491.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,940,525 shares of the company’s stock worth $55,072,000 after purchasing an additional 1,898,258 shares during the period. TD Asset Management Inc grew its holdings in Brookfield Renewable by 301.6% during the 2nd quarter. TD Asset Management Inc now owns 969,055 shares of the company’s stock worth $27,488,000 after acquiring an additional 727,780 shares during the period. CIBC Asset Management Inc raised its position in shares of Brookfield Renewable by 26.0% in the 3rd quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock worth $81,291,000 after acquiring an additional 504,060 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Brookfield Renewable in the 2nd quarter valued at about $9,831,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Brookfield Renewable by 66.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 539,696 shares of the company’s stock valued at $15,317,000 after purchasing an additional 215,592 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Trading Down 0.3 %

NYSE:BEPC opened at $31.82 on Tuesday. Brookfield Renewable Co. has a one year low of $21.35 and a one year high of $35.14. The company has a market cap of $5.72 billion, a PE ratio of -38.80 and a beta of 1.20. 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 50-day moving average of $31.55 and a 200-day moving average of $30.15.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. During the same period in the prior year, the firm earned ($0.14) earnings per share. As a group, equities research analysts expect that Brookfield Renewable Co. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable’s dividend payout ratio is presently -173.17%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th.

Brookfield Renewable Company 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.