DAVENPORT & Co LLC increased its stake in Brookfield Renewable Co. (NYSE:BEPC – Get Rating) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,668 shares of the company's stock after buying an additional 1,640 shares during the period. DAVENPORT & Co LLC owned about 0.07% of Brookfield Renewable worth $4,467,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in BEPC. Qube Research & Technologies Ltd bought a new stake in Brookfield Renewable during the fourth quarter valued at $255,000. Rhumbline Advisers increased its stake in Brookfield Renewable by 2.4% during the fourth quarter. Rhumbline Advisers now owns 115,768 shares of the company's stock valued at $4,264,000 after purchasing an additional 2,659 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Brookfield Renewable by 19.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 43,944 shares of the company's stock valued at $1,617,000 after purchasing an additional 7,002 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Brookfield Renewable by 14.6% during the fourth quarter. Nuveen Asset Management LLC now owns 2,209,888 shares of the company's stock valued at $81,390,000 after purchasing an additional 281,567 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Brookfield Renewable by 22.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 780,353 shares of the company's stock valued at $28,740,000 after purchasing an additional 144,446 shares during the last quarter. Institutional investors own 69.21% of the company's stock.
Get Brookfield Renewable alerts:Brookfield Renewable Stock Down 4.1 %
Brookfield Renewable stock opened at $34.61 on Tuesday. The company has a 50-day simple moving average of $39.44 and a 200-day simple moving average of $38.35. The firm has a market capitalization of $5.96 billion, a P/E ratio of -66.56 and a beta of 0.88. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.30 and a current ratio of 0.30. Brookfield Renewable Co. has a one year low of $31.10 and a one year high of $44.41.
Brookfield Renewable (NYSE:BEPC – Get Rating) last released its quarterly earnings results on Friday, August 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. Brookfield Renewable had a negative net margin of 1.72% and a negative return on equity of 0.58%. As a group, equities analysts expect that Brookfield Renewable Co. will post -0.3 earnings per share for the current year.Brookfield Renewable Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders 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 yield of 3.70%. The ex-dividend date of this dividend is Tuesday, August 30th. Brookfield Renewable's payout ratio is -246.15%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on BEPC. Wells Fargo & Company boosted their target price on shares of Brookfield Renewable from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, August 8th. JPMorgan Chase & Co. boosted their target price 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.
Brookfield Renewable Profile
(Get Rating)
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.
Featured Stories
- Get a free copy of the StockNews.com research report on Brookfield Renewable (BEPC)
- MarketBeat Podcast, 3 Stocks to Watch Newmont Mining, Walmart, AMC
- MO Money: Why Altria Group Stock is Rallying
- Is the Market Overreacting with Shopify Stock?
- Fed Raises Rates: 3 Stocks to Watch Newmont Mining, Walmart, AMC
- Three Consumer Stocks That Could Outperform In Q4
Receive News & Ratings for Brookfield Renewable Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Renewable and related companies with MarketBeat.com's FREE daily email newsletter.