Griffin Asset Management Inc. Grows Position in Brookfield Renewable Co. (NYSE:BEPC)

Griffin Asset Management Inc. raised its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 17.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,609 shares of the company’s stock after purchasing an additional 2,482 shares during the period. Griffin Asset Management Inc.’s holdings in Brookfield Renewable were worth $542,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Brookfield Renewable by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 5,244,258 shares of the company’s stock worth $128,851,000 after purchasing an additional 47,139 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Renewable by 1.7% in the second quarter. Principal Financial Group Inc. now owns 4,757,977 shares of the company’s stock worth $135,031,000 after buying an additional 80,350 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Brookfield Renewable by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock valued at $59,359,000 after acquiring an additional 191,550 shares during the period. Epoch Investment Partners Inc. grew its stake in Brookfield Renewable by 4,491.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,940,525 shares of the company’s stock valued at $55,072,000 after acquiring an additional 1,898,258 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Brookfield Renewable by 13.3% during the 2nd quarter. Clearbridge Investments LLC now owns 1,556,531 shares of the company’s stock worth $44,179,000 after acquiring an additional 182,717 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $32.74 on Thursday. The stock has a market cap of $5.88 billion, a P/E ratio of -71.17 and a beta of 1.19. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.87. The business’s 50-day moving average price is $29.63 and its two-hundred day moving average price is $28.73. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $33.17.

Brookfield Renewable (NYSE:BEPC) last announced its earnings results 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 company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. As a group, equities analysts predict that Brookfield Renewable Co. will post -1.02 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.355 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.42 annualized dividend and a yield of 4.34%. Brookfield Renewable’s dividend payout ratio (DPR) is presently -308.70%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price target on shares of Brookfield Renewable from $33.00 to $34.00 and gave the company 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.