Connor Clark & Lunn Investment Management Ltd. Sells 36,867 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 785,733 shares of the company’s stock after selling 36,867 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.44% of Brookfield Renewable worth $25,653,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Brookfield Renewable by 0.9% during the first quarter. Vanguard Group Inc. now owns 5,244,258 shares of the company’s stock valued at $128,851,000 after purchasing an additional 47,139 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in Brookfield Renewable by 111.1% in the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock worth $47,000 after acquiring an additional 1,000 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new position in shares of Brookfield Renewable during the first quarter valued at $8,979,000. Toronto Dominion Bank increased its holdings in shares of Brookfield Renewable by 57.0% during the first quarter. Toronto Dominion Bank now owns 96,910 shares of the company’s stock valued at $2,381,000 after acquiring an additional 35,192 shares in the last quarter. Finally, Guardian Capital Advisors LP raised its position in shares of Brookfield Renewable by 18.4% in the 1st quarter. Guardian Capital Advisors LP now owns 20,784 shares of the company’s stock worth $511,000 after purchasing an additional 3,233 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th.

Brookfield Renewable Stock Up 2.0 %

Brookfield Renewable stock opened at $31.34 on Thursday. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $35.14. The stock has a fifty day simple moving average of $31.31 and a two-hundred day simple moving average of $30.09. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of -38.22 and a beta of 1.20.

Brookfield Renewable (NYSE:BEPC) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.37 billion. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. During the same quarter in the previous year, the business posted ($0.14) earnings per share. Equities analysts predict that Brookfield Renewable Co. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 4.53%. Brookfield Renewable’s dividend payout ratio is presently -173.17%.

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.