Hanson & Doremus Investment Management Increases Stake in Brookfield Renewable Co. (NYSE:BEPC)

Hanson & Doremus Investment Management grew its stake in Brookfield Renewable Co. (NYSE:BEPC) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,572 shares of the company’s stock after purchasing an additional 1,151 shares during the period. Hanson & Doremus Investment Management’s holdings in Brookfield Renewable were worth $470,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc lifted its stake in shares of Brookfield Renewable by 24.8% in the 4th quarter. CIBC Asset Management Inc now owns 1,649,627 shares of the company’s stock valued at $47,639,000 after purchasing an additional 327,785 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield Renewable by 7.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 748,015 shares of the company’s stock worth $21,564,000 after acquiring an additional 53,391 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Brookfield Renewable by 67.1% in the 1st quarter. Russell Investments Group Ltd. now owns 206,733 shares of the company’s stock valued at $5,079,000 after purchasing an additional 83,003 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Brookfield Renewable by 16.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 176,654 shares of the company’s stock valued at $4,340,000 after purchasing an additional 25,584 shares in the last quarter. Finally, AMF Tjanstepension AB purchased a new position in Brookfield Renewable during the first quarter worth approximately $6,883,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Down 0.2 %

BEPC opened at $30.00 on Friday. The company has a market cap of $5.39 billion, a PE ratio of -65.22 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 50-day moving average price of $28.54 and a 200 day moving average price of $27.62. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.87.

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

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.355 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a yield of 4.73%. Brookfield Renewable’s payout ratio is currently -308.70%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their target price on 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 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.