Lake Street Advisors Group LLC Lowers Holdings in Brookfield Renewable Co. (NYSE:BEPC)

Lake Street Advisors Group LLC lessened its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 328,052 shares of the company’s stock after selling 6,984 shares during the period. Lake Street Advisors Group LLC’s holdings in Brookfield Renewable were worth $9,074,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Dearborn Partners LLC boosted its holdings in shares of Brookfield Renewable by 3.2% in the 3rd quarter. Dearborn Partners LLC now owns 16,100 shares of the company’s stock worth $526,000 after purchasing an additional 500 shares in the last quarter. Toronto Dominion Bank lifted its position in Brookfield Renewable by 0.6% in the 3rd quarter. Toronto Dominion Bank now owns 95,118 shares of the company’s stock worth $3,107,000 after buying an additional 525 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Brookfield Renewable by 2.1% in the fourth quarter. Vontobel Holding Ltd. now owns 26,020 shares of the company’s stock worth $719,000 after buying an additional 542 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of Brookfield Renewable by 7.0% in the 4th quarter. SeaCrest Wealth Management LLC now owns 10,013 shares of the company’s stock valued at $277,000 after purchasing an additional 653 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in Brookfield Renewable by 4.3% during the fourth quarter. Private Advisor Group LLC now owns 19,265 shares of the company’s stock valued at $533,000 after buying an additional 791 shares during the period. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Trading Up 1.5 %

NYSE:BEPC opened at $28.41 on Wednesday. The firm has a market capitalization of $4.12 billion, a P/E ratio of -31.92 and a beta of 1.22. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89. The company has a fifty day moving average of $27.18 and a 200 day moving average of $29.29.

Brookfield Renewable (NYSE:BEPC) last posted its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a negative net margin of 0.15% and a negative return on equity of 0.06%.

Brookfield Renewable Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.373 dividend. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -159.55%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd.

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.