Smith Salley Wealth Management Has $751,000 Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

Smith Salley Wealth Management lifted its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 2.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 26,470 shares of the company’s stock after acquiring an additional 563 shares during the quarter. Smith Salley Wealth Management’s holdings in Brookfield Renewable were worth $751,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BEPC. Bartlett & CO. Wealth Management LLC acquired a new position in Brookfield Renewable in the 4th quarter valued at $30,000. Gulf International Bank UK Ltd increased its position in shares of Brookfield Renewable by 161.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock worth $29,000 after purchasing an additional 740 shares during the period. Beach Investment Counsel Inc. PA bought a new position in shares of Brookfield Renewable in the second quarter worth $46,000. Abich Financial Wealth Management LLC raised its stake in Brookfield Renewable by 49.7% in the first quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock valued at $44,000 after purchasing an additional 592 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted 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 worth $47,000 after purchasing an additional 1,000 shares during the period. 75.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Brookfield Renewable Price Performance

Shares of BEPC traded up $0.21 during midday trading on Friday, hitting $28.49. The company’s stock had a trading volume of 649,572 shares, compared to its average volume of 965,418. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.82. Brookfield Renewable Co. has a one year low of $21.35 and a one year high of $32.83. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of -61.93 and a beta of 1.18. The company’s fifty day simple moving average is $28.62 and its two-hundred day simple moving average is $27.33.

Brookfield Renewable (NYSE:BEPC) last released its earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Brookfield Renewable had a net margin of 7.10% and a return on equity of 2.19%. As a group, equities analysts expect that Brookfield Renewable Co. will post -0.99 earnings per share for the current fiscal year.

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable’s payout ratio is -308.70%.

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.