JPMorgan Chase & Co. Sells 3,171 Shares of Brookfield Renewable Co. (NYSE:BEPC)

JPMorgan Chase & Co. reduced its stake in Brookfield Renewable Co. (NYSE:BEPC) by 0.6% during the third quarter, HoldingsChannel.com reports. The firm owned 571,958 shares of the company’s stock after selling 3,171 shares during the quarter. JPMorgan Chase & Co.’s holdings in Brookfield Renewable were worth $18,680,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hexagon Capital Partners LLC boosted its holdings in Brookfield Renewable by 468.4% in the third quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after acquiring an additional 623 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Brookfield Renewable in the 3rd quarter worth about $31,000. Signaturefd LLC raised its position in shares of Brookfield Renewable by 250.7% in the 3rd 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 boosted its stake in Brookfield Renewable by 99.4% in the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company’s stock worth $99,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Quarry LP purchased a new stake in Brookfield Renewable during the 3rd quarter valued at about $133,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised shares of Brookfield Renewable from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $34.00 in a report on Thursday, December 12th.

Brookfield Renewable Stock Performance

BEPC stock opened at $27.57 on Friday. The stock’s 50 day simple moving average is $29.86 and its 200 day simple moving average is $29.76. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. Brookfield Renewable Co. has a 12-month low of $21.35 and a 12-month high of $35.14. The stock has a market capitalization of $4.00 billion, a PE ratio of -33.62 and a beta of 1.23.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings results 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). Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company earned ($0.14) earnings per share. As a group, research analysts forecast that Brookfield Renewable Co. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.15%. The ex-dividend date was Friday, November 29th. Brookfield Renewable’s dividend payout ratio is currently -173.17%.

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.