Brookfield Renewable (NYSE:BEPC) Trading 8.6% Higher – What’s Next?

Shares of Brookfield Renewable Co. (NYSE:BEPC) were up 8.6% on Wednesday . The company traded as high as $32.56 and last traded at $32.41. Approximately 748,398 shares traded hands during trading, a decline of 20% from the average daily volume of 938,651 shares. The stock had previously closed at $29.85.

Analysts Set New Price Targets

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

Brookfield Renewable Stock Up 9.7 %

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of -69.83 and a beta of 1.19. The firm’s 50-day simple moving average is $29.52 and its two-hundred day simple moving average is $28.71.

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

Brookfield Renewable Announces Dividend

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

Hedge Funds Weigh In On Brookfield Renewable

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEPC. Epoch Investment Partners Inc. raised its holdings in shares of Brookfield Renewable by 4,491.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,940,525 shares of the company’s stock worth $55,072,000 after acquiring an additional 1,898,258 shares during the last quarter. TD Asset Management Inc increased its position in Brookfield Renewable by 301.6% during the 2nd quarter. TD Asset Management Inc now owns 969,055 shares of the company’s stock worth $27,488,000 after purchasing an additional 727,780 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in Brookfield Renewable in the 1st quarter valued at about $8,979,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Brookfield Renewable in the 2nd quarter valued at about $9,831,000. Finally, AMF Tjanstepension AB acquired a new stake in shares of Brookfield Renewable during the 1st quarter worth about $6,883,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

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.