Freedom Investment Management Inc. Sells 1,430 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Freedom Investment Management Inc. lowered its position in Brookfield Renewable Co. (NYSE:BEPC) by 5.2% during the 3rd quarter, Holdings Channel reports. The fund owned 25,861 shares of the company’s stock after selling 1,430 shares during the period. Freedom Investment Management Inc.’s holdings in Brookfield Renewable were worth $845,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its stake in Brookfield Renewable by 468.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock valued at $25,000 after purchasing an additional 623 shares in the last quarter. Truvestments Capital LLC bought a new stake in Brookfield Renewable during the 3rd quarter worth approximately $31,000. Abich Financial Wealth Management LLC raised its stake in shares of Brookfield Renewable by 49.7% in the first quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after purchasing an additional 592 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new position in shares of Brookfield Renewable in the second quarter valued at approximately $46,000. Finally, Signaturefd LLC boosted its position in shares of Brookfield Renewable by 250.7% during the third quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock valued at $72,000 after buying an additional 1,567 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered their price target on Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th.

Brookfield Renewable Stock Up 2.6 %

Brookfield Renewable stock opened at $32.68 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market cap of $5.87 billion, a PE ratio of -39.85 and a beta of 1.20. Brookfield Renewable Co. has a fifty-two week low of $21.35 and a fifty-two week high of $35.14. The firm’s 50-day simple moving average is $31.47 and its 200 day simple moving average is $30.15.

Brookfield Renewable (NYSE:BEPC) last released its earnings results on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.37 billion. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. During the same period in the prior year, the company earned ($0.14) earnings per share. Research analysts predict that Brookfield Renewable Co. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable’s payout ratio is -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.