Cannell & Spears LLC Purchases 123,587 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Cannell & Spears LLC raised its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC) by 342.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,704 shares of the company’s stock after acquiring an additional 123,587 shares during the quarter. Cannell & Spears LLC owned approximately 0.11% of Brookfield Renewable worth $4,417,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BEPC. Toronto Dominion Bank boosted its stake in Brookfield Renewable by 0.6% in the 3rd quarter. Toronto Dominion Bank now owns 95,118 shares of the company’s stock worth $3,107,000 after purchasing an additional 525 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Brookfield Renewable by 2.1% during the fourth quarter. Vontobel Holding Ltd. now owns 26,020 shares of the company’s stock worth $719,000 after acquiring an additional 542 shares during the last quarter. Modern Wealth Management LLC grew its stake in Brookfield Renewable by 4.7% during the fourth quarter. Modern Wealth Management LLC now owns 13,767 shares of the company’s stock valued at $373,000 after acquiring an additional 623 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in Brookfield Renewable by 7.0% in the 4th quarter. SeaCrest Wealth Management LLC now owns 10,013 shares of the company’s stock valued at $277,000 after acquiring an additional 653 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in Brookfield Renewable by 4.3% in the 4th quarter. Private Advisor Group LLC now owns 19,265 shares of the company’s stock worth $533,000 after purchasing an additional 791 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 equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd.

Brookfield Renewable Stock Performance

Brookfield Renewable stock opened at $27.95 on Tuesday. The company’s 50-day moving average price is $27.48 and its 200-day moving average price is $29.27. The company has a quick ratio of 0.51, a current ratio of 0.27 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 Co. has a twelve month low of $21.35 and a twelve month high of $35.14.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings data on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a $0.373 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.34%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio is currently -167.42%.

About Brookfield Renewable

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.