Renaissance Technologies LLC Lowers Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

Renaissance Technologies LLC cut its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,658,595 shares of the company’s stock after selling 82,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.92% of Brookfield Renewable worth $47,071,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BEPC. Dimensional Fund Advisors LP grew its holdings in Brookfield Renewable by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock worth $59,359,000 after purchasing an additional 191,550 shares during the period. Hanson & Doremus Investment Management increased its position in Brookfield Renewable by 7.5% during the 2nd quarter. Hanson & Doremus Investment Management now owns 16,572 shares of the company’s stock valued at $470,000 after buying an additional 1,151 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Brookfield Renewable by 66.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 539,696 shares of the company’s stock valued at $15,317,000 after buying an additional 215,592 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Brookfield Renewable by 48.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 153,760 shares of the company’s stock worth $4,364,000 after acquiring an additional 49,979 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Brookfield Renewable by 6.8% in the second quarter. Oppenheimer & Co. Inc. now owns 188,586 shares of the company’s stock worth $5,352,000 after acquiring an additional 11,932 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price target on Brookfield Renewable from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th.

Brookfield Renewable Price Performance

Shares of NYSE BEPC opened at $30.19 on Wednesday. The firm has a market cap of $5.42 billion, a P/E ratio of -65.63 and a beta of 1.18. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $32.83. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $28.57 and a 200 day moving average of $27.69.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. As a group, research analysts expect that Brookfield Renewable Co. will post -1.02 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 4.70%. The ex-dividend date is Friday, August 30th. Brookfield Renewable’s dividend payout ratio is currently -308.70%.

Brookfield Renewable Company 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.