Short Interest in Brookfield Renewable Co. (NYSE:BEPC) Drops By 8.1%

Brookfield Renewable Co. (NYSE:BEPC) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 6,000,000 shares, a decline of 8.1% from the September 15th total of 6,530,000 shares. Based on an average daily trading volume, of 819,000 shares, the short-interest ratio is presently 7.3 days.

Brookfield Renewable Stock Performance

Shares of BEPC stock traded up $2.89 during trading hours on Wednesday, reaching $32.74. The company had a trading volume of 2,187,368 shares, compared to its average volume of 946,441. The business has a fifty day moving average price of $29.63 and a 200-day moving average price of $28.73. Brookfield Renewable has a one year low of $21.35 and a one year high of $33.17. The firm has a market cap of $5.88 billion, a PE ratio of -71.17 and a beta of 1.19. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.40.

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

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.355 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.34%. Brookfield Renewable’s dividend payout ratio is presently -308.70%.

Institutional Trading of Brookfield Renewable

Large investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC grew its position in Brookfield Renewable by 468.4% during the third quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock valued at $25,000 after buying an additional 623 shares during the period. Gulf International Bank UK Ltd grew its position in Brookfield Renewable by 161.9% during the first quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock valued at $29,000 after buying an additional 740 shares during the period. Abich Financial Wealth Management LLC grew its position in Brookfield Renewable by 49.7% during the first quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock valued at $44,000 after buying an additional 592 shares during the period. Beach Investment Counsel Inc. PA bought a new stake in Brookfield Renewable during the second quarter valued at approximately $46,000. Finally, UniSuper Management Pty Ltd grew its position in Brookfield Renewable by 111.1% during the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock valued at $47,000 after buying an additional 1,000 shares during the period. 75.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lifted their target price on shares of Brookfield Renewable from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th.

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.