Tidal Investments LLC Purchases Shares of 22,862 Brookfield Renewable Co. (NYSE:BEPC)

Tidal Investments LLC purchased a new position in shares of Brookfield Renewable Co. (NYSE:BEPC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,862 shares of the company’s stock, valued at approximately $747,000.

Several other hedge funds have also recently modified their holdings of the stock. Hexagon Capital Partners LLC raised its stake in Brookfield Renewable by 468.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after acquiring an additional 623 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Brookfield Renewable in the third quarter valued at about $31,000. Signaturefd LLC raised its stake in shares of Brookfield Renewable by 250.7% in the third quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock worth $72,000 after purchasing an additional 1,567 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Brookfield Renewable by 99.4% during 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 purchased a new stake in Brookfield Renewable in the third quarter valued at approximately $133,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upgraded shares of Brookfield Renewable from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $32.00 to $34.00 in a research note on Thursday, December 12th.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $28.30 on Friday. The firm’s fifty day moving average is $31.02 and its two-hundred day moving average is $29.98. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of -34.51 and a beta of 1.19. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.51. 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, November 8th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the company earned ($0.14) EPS. Research analysts expect that Brookfield Renewable Co. will post -1.04 EPS for the current year.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable’s dividend payout ratio (DPR) is -173.17%.

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.