Brookfield Renewable Co. (NYSE:BEPC) Short Interest Update

Brookfield Renewable Co. (NYSE:BEPC) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 6,000,000 shares, a decrease of 8.1% from the September 15th total of 6,530,000 shares. Based on an average trading volume of 819,000 shares, the days-to-cover ratio is presently 7.3 days.

Hedge Funds Weigh In On Brookfield Renewable

A number of large investors have recently modified their holdings of the company. Griffin Asset Management Inc. lifted its position in shares of Brookfield Renewable by 17.6% during the third quarter. Griffin Asset Management Inc. now owns 16,609 shares of the company’s stock worth $542,000 after purchasing an additional 2,482 shares in the last quarter. Trust Co. of Oklahoma acquired a new stake in Brookfield Renewable in the third quarter valued at $202,000. Creative Planning boosted its stake in Brookfield Renewable by 24.0% during the 3rd quarter. Creative Planning now owns 12,971 shares of the company’s stock valued at $424,000 after acquiring an additional 2,513 shares during the last quarter. Procyon Advisors LLC grew its holdings in Brookfield Renewable by 5.6% during the 3rd quarter. Procyon Advisors LLC now owns 13,232 shares of the company’s stock worth $432,000 after acquiring an additional 704 shares in the last quarter. Finally, InTrack Investment Management Inc raised its stake in shares of Brookfield Renewable by 26.1% in the 3rd quarter. InTrack Investment Management Inc now owns 51,217 shares of the company’s stock valued at $1,673,000 after purchasing an additional 10,607 shares in the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Brookfield Renewable Stock Down 0.8 %

BEPC traded down $0.26 on Thursday, reaching $32.48. The company’s stock had a trading volume of 1,392,433 shares, compared to its average volume of 948,664. 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 has a fifty-two week low of $21.35 and a fifty-two week high of $33.17. The stock has a 50 day moving average of $29.63 and a two-hundred day moving average of $28.73. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of -70.78 and a beta of 1.19.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly 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 firm had revenue of $1.48 billion for 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%. As a group, analysts forecast that Brookfield Renewable will post -1.02 EPS for the current fiscal year.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 4.37%. The ex-dividend date was Friday, August 30th. Brookfield Renewable’s dividend payout ratio (DPR) is -308.70%.

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.