Brookfield Renewable Co. (NYSE:BEPC – Get Rating) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,820,000 shares, a growth of 8.0% from the October 31st total of 2,610,000 shares. Currently, 1.6% of the company's shares are short sold. Based on an average daily volume of 665,600 shares, the days-to-cover ratio is presently 4.2 days.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BEPC shares. JPMorgan Chase & Co. upped their price objective on shares of Brookfield Renewable from $48.00 to $49.00 and gave the company an "overweight" rating in a research note on Monday, August 8th. Wells Fargo & Company lowered their price objective on Brookfield Renewable from $41.00 to $37.00 and set an "overweight" rating for the company in a research report on Monday, November 7th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Brookfield Renewable by 604.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 641 shares of the company's stock worth $27,000 after purchasing an additional 550 shares during the period. Desjardins Global Asset Management Inc. bought a new position in shares of Brookfield Renewable in the second quarter valued at $27,000. Achmea Investment Management B.V. acquired a new position in shares of Brookfield Renewable during the third quarter valued at about $28,000. Ensign Peak Advisors Inc bought a new stake in shares of Brookfield Renewable during the third quarter worth about $30,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Brookfield Renewable in the 3rd quarter worth about $33,000. Institutional investors own 69.21% of the company's stock.

Brookfield Renewable Trading Down 0.1 %

Brookfield Renewable (NYSE:BEPC – Get Rating) last issued its earnings results on Friday, November 4th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.14). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.02 billion. Sell-side analysts predict that Brookfield Renewable will post -0.48 earnings per share for the current year.

Brookfield Renewable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Wednesday, November 30th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Tuesday, November 29th. Brookfield Renewable's payout ratio is -228.57%.

Brookfield Renewable Company Profile

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Brookfield Renewable Corporation owns and operates a portfolio of renewable energy power generating facilities primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, and solar power plants with an installed capacity of approximately 12,723 megawatts. The company was incorporated in 2019 and is headquartered in New York, New York.

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