Brookfield Renewable Co. (NYSE:BEPC – Get Rating) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,180,000 shares, an increase of 6.4% from the August 15th total of 2,990,000 shares. Based on an average daily trading volume, of 572,200 shares, the days-to-cover ratio is presently 5.6 days. Approximately 1.9% of the company's stock are short sold.
Institutional Trading of Brookfield Renewable
Several hedge funds and other institutional investors have recently bought and sold shares of BEPC. Northwestern Mutual Wealth Management Co. grew its holdings in 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 acquiring an additional 550 shares during the period. Desjardins Global Asset Management Inc. acquired a new stake in Brookfield Renewable during the second quarter worth about $27,000. Annapolis Financial Services LLC acquired a new stake in Brookfield Renewable during the second quarter worth about $34,000. Federated Hermes Inc. acquired a new stake in Brookfield Renewable during the first quarter worth about $35,000. Finally, Meeder Asset Management Inc. grew its holdings in Brookfield Renewable by 234.9% during the first quarter. Meeder Asset Management Inc. now owns 1,122 shares of the company's stock worth $49,000 after acquiring an additional 787 shares during the period. 69.21% of the stock is owned by institutional investors and hedge funds.
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Brookfield Renewable Stock Down 1.6 %
Shares of BEPC stock opened at $38.96 on Thursday. The stock's 50-day simple moving average is $39.45 and its 200-day simple moving average is $38.51. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $6.71 billion, a PE ratio of -74.92 and a beta of 0.88. Brookfield Renewable has a fifty-two week low of $31.10 and a fifty-two week high of $44.41.
Brookfield Renewable (NYSE:BEPC – Get Rating) last announced its quarterly earnings data on Friday, August 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.05. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. Brookfield Renewable had a negative return on equity of 0.58% and a negative net
margin of 1.72%. Equities analysts expect that Brookfield Renewable will post -0.3 earnings per share for the current year.
Brookfield Renewable Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, August 31st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Tuesday, August 30th. Brookfield Renewable's dividend payout ratio is presently -246.15%.
Analyst Ratings Changes
A number of research firms have commented on BEPC. JPMorgan Chase & Co. increased their price target on 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 increased their price target on Brookfield Renewable from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, August 8th.
About Brookfield Renewable
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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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