DAVENPORT & Co LLC Increases Holdings in Brookfield Renewable Co. (NYSE:BEPC)

DAVENPORT & Co LLC lifted its stake in Brookfield Renewable Co. (NYSE:BEPC) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,579 shares of the company’s stock after buying an additional 6,766 shares during the period. DAVENPORT & Co LLC’s holdings in Brookfield Renewable were worth $7,513,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Green Alpha Advisors LLC boosted its stake in shares of Brookfield Renewable by 55.8% in the fourth quarter. Green Alpha Advisors LLC now owns 138,976 shares of the company’s stock valued at $3,844,000 after purchasing an additional 49,748 shares during the period. Harvest Portfolios Group Inc. increased its position in shares of Brookfield Renewable by 15.0% during the third quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company’s stock worth $9,733,000 after acquiring an additional 38,853 shares during the last quarter. A. D. Beadell Investment Counsel Inc. boosted its holdings in Brookfield Renewable by 252.7% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 44,265 shares of the company’s stock valued at $1,224,000 after purchasing an additional 31,715 shares during the last quarter. Bank of Montreal Can boosted its holdings in Brookfield Renewable by 1.4% in the third quarter. Bank of Montreal Can now owns 1,139,177 shares of the company’s stock valued at $37,444,000 after purchasing an additional 16,033 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in Brookfield Renewable during the 4th quarter valued at approximately $287,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd.

Brookfield Renewable Trading Up 4.8 %

NYSE:BEPC opened at $26.74 on Monday. The company has a market cap of $3.88 billion, a PE ratio of -32.61 and a beta of 1.23. The business’s 50 day moving average is $28.24 and its two-hundred day moving average is $29.33. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $35.14.

Brookfield Renewable (NYSE:BEPC) last released its quarterly earnings data on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. On average, analysts predict that Brookfield Renewable Co. will post -1.01 EPS for the current year.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 5.58%. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio (DPR) is currently -173.17%.

Brookfield Renewable 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.