Cannell & Spears LLC Increases Holdings in Brookfield Renewable Co. (NYSE:BEPC)

Cannell & Spears LLC raised its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 342.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,704 shares of the company’s stock after purchasing an additional 123,587 shares during the period. Cannell & Spears LLC’s holdings in Brookfield Renewable were worth $4,417,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cerity Partners LLC lifted its stake in Brookfield Renewable by 93.3% in the third quarter. Cerity Partners LLC now owns 18,028 shares of the company’s stock worth $589,000 after acquiring an additional 8,701 shares during the period. Townsquare Capital LLC bought a new stake in shares of Brookfield Renewable in the 3rd quarter valued at about $254,000. Glenmede Trust Co. NA bought a new position in shares of Brookfield Renewable during the third quarter valued at approximately $535,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Brookfield Renewable by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,011 shares of the company’s stock valued at $3,302,000 after buying an additional 2,017 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in Brookfield Renewable by 16.5% in the third quarter. Rockefeller Capital Management L.P. now owns 231,990 shares of the company’s stock worth $7,577,000 after buying an additional 32,897 shares in the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BEPC. JPMorgan Chase & Co. dropped their target price on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company cut their target price 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 Stock Performance

Shares of BEPC stock opened at $27.95 on Tuesday. Brookfield Renewable Co. has a 12-month low of $21.35 and a 12-month high of $35.14. The business’s fifty day simple moving average is $27.48 and its 200-day simple moving average is $29.27. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The company has a market cap of $4.05 billion, a PE ratio of -31.40 and a beta of 1.20.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a dividend of $0.373 per share. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 5.34%. Brookfield Renewable’s dividend payout ratio is presently -167.42%.

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.