CIBC Asset Management Inc Sells 76,948 Shares of Brookfield Renewable Co. (NYSE:BEPC)

CIBC Asset Management Inc reduced its stake in Brookfield Renewable Co. (NYSE:BEPC) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,366,163 shares of the company’s stock after selling 76,948 shares during the quarter. CIBC Asset Management Inc owned about 1.63% of Brookfield Renewable worth $66,919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in Brookfield Renewable by 58.5% during the fourth quarter. Baillie Gifford & Co. now owns 663,077 shares of the company’s stock worth $18,341,000 after purchasing an additional 244,706 shares during the period. Vontobel Holding Ltd. grew its position in shares of Brookfield Renewable by 2.1% during the 4th quarter. Vontobel Holding Ltd. now owns 26,020 shares of the company’s stock worth $719,000 after buying an additional 542 shares during the period. Investment Partners Asset Management Inc. increased its stake in shares of Brookfield Renewable by 7.8% in the 4th quarter. Investment Partners Asset Management Inc. now owns 49,617 shares of the company’s stock valued at $1,372,000 after acquiring an additional 3,608 shares in the last quarter. Van ECK Associates Corp boosted its stake in Brookfield Renewable by 4.0% during the fourth quarter. Van ECK Associates Corp now owns 120,029 shares of the company’s stock worth $3,348,000 after acquiring an additional 4,572 shares in the last quarter. Finally, Spirit of America Management Corp NY boosted its stake in Brookfield Renewable by 87.0% during the fourth quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock worth $59,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC opened at $27.75 on Monday. The business’s 50 day moving average is $27.32 and its 200 day moving average is $29.24. Brookfield Renewable Co. has a 12-month low of $21.35 and a 12-month high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89.

Brookfield Renewable (NYSE:BEPC) last released its quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a negative net margin of 0.15% and a negative return on equity of 0.06%.

Brookfield Renewable Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio is -159.55%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BEPC shares. Wells Fargo & Company cut their price objective on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on 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 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.