Brookfield Renewable Co. (NYSE:BEPC) Short Interest Down 9.9% in December

Brookfield Renewable Co. (NYSE:BEPC) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 4,980,000 shares, a drop of 9.9% from the November 30th total of 5,530,000 shares. Based on an average daily trading volume, of 927,400 shares, the days-to-cover ratio is currently 5.4 days.

Brookfield Renewable Trading Down 1.5 %

BEPC traded down $0.41 during trading hours on Wednesday, reaching $27.66. 918,179 shares of the company’s stock traded hands, compared to its average volume of 947,124. The firm has a 50-day moving average price of $30.43 and a 200 day moving average price of $29.83. The firm has a market capitalization of $4.97 billion, a PE ratio of -33.73 and a beta of 1.19. 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 has a 52-week low of $21.35 and a 52-week high of $35.14.

Brookfield Renewable (NYSE:BEPC) last issued its earnings results on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. During the same period in the prior year, the firm posted ($0.14) earnings per share. As a group, sell-side analysts predict that Brookfield Renewable will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a $0.355 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 5.13%. Brookfield Renewable’s dividend payout ratio (DPR) is currently -173.17%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised shares of Brookfield Renewable from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $32.00 to $34.00 in a research note on Thursday, December 12th.

Institutional Investors Weigh In On Brookfield Renewable

Institutional investors and hedge funds have recently bought and sold shares of the company. Harvest Portfolios Group Inc. lifted its position in shares of Brookfield Renewable by 15.0% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company’s stock worth $9,733,000 after purchasing an additional 38,853 shares during the period. Bank of Montreal Can raised its stake in shares of Brookfield Renewable by 1.4% during the 3rd quarter. Bank of Montreal Can now owns 1,139,177 shares of the company’s stock valued at $37,444,000 after buying an additional 16,033 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Brookfield Renewable by 17.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 181,310 shares of the company’s stock worth $5,922,000 after acquiring an additional 27,550 shares during the period. Pacifica Partners Inc. raised its position in Brookfield Renewable by 105.1% during the third quarter. Pacifica Partners Inc. now owns 58,698 shares of the company’s stock valued at $1,920,000 after acquiring an additional 30,080 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Brookfield Renewable by 135.3% during the 3rd quarter. Intech Investment Management LLC now owns 103,699 shares of the company’s stock valued at $3,390,000 after purchasing an additional 59,630 shares in the last quarter. 75.12% of the stock is owned by institutional investors.

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.