Washington Trust Advisors Inc. Lowers Position in Brookfield Renewable Co. (NYSE:BEPC)

Washington Trust Advisors Inc. trimmed its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 422,526 shares of the company’s stock after selling 19,208 shares during the quarter. Brookfield Renewable makes up approximately 1.0% of Washington Trust Advisors Inc.’s investment portfolio, making the stock its 28th largest position. Washington Trust Advisors Inc.’s holdings in Brookfield Renewable were worth $11,687,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BEPC. Parnassus Investments LLC raised its stake in Brookfield Renewable by 3.7% in the 3rd quarter. Parnassus Investments LLC now owns 2,667,638 shares of the company’s stock valued at $87,125,000 after purchasing an additional 94,710 shares during the last quarter. CIBC Asset Management Inc raised its stake in Brookfield Renewable by 26.0% in the 3rd quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock valued at $81,291,000 after purchasing an additional 504,060 shares during the last quarter. Robeco Schweiz AG acquired a new position in Brookfield Renewable in the 4th quarter valued at $55,680,000. Geode Capital Management LLC raised its stake in Brookfield Renewable by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,249,866 shares of the company’s stock valued at $40,633,000 after purchasing an additional 25,558 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Brookfield Renewable by 1.4% in the 3rd quarter. Bank of Montreal Can now owns 1,139,177 shares of the company’s stock valued at $37,444,000 after purchasing an additional 16,033 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Brookfield Renewable Stock Up 2.4 %

Shares of BEPC opened at $27.34 on Thursday. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $35.14. The company has a market capitalization of $3.96 billion, a PE ratio of -30.71 and a beta of 1.20. The stock has a fifty day simple moving average of $27.07 and a two-hundred day simple moving average of $29.25. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89.

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

Brookfield Renewable Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.373 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is an increase 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 5.46%. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

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.