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

Brookfield Renewable Co. (NYSE:BEPC) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 5,730,000 shares, a growth of 34.2% from the January 31st total of 4,270,000 shares. Based on an average daily volume of 997,700 shares, the short-interest ratio is presently 5.7 days. Approximately 4.0% of the company’s shares are short sold.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC opened at $27.34 on Thursday. The company has a market cap of $3.96 billion, a P/E ratio of -30.71 and a beta of 1.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27. Brookfield Renewable has a one year low of $21.35 and a one year high of $35.14. The business’s 50-day simple moving average is $27.07 and its 200 day simple moving average is $29.25.

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

Brookfield Renewable Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.373 per share. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is Friday, February 28th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BEPC. Wells Fargo & Company reduced their price objective on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note 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 on the stock in a research note on Thursday, January 23rd.

Institutional Investors Weigh In On Brookfield Renewable

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Brookfield Renewable by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company’s stock worth $154,464,000 after purchasing an additional 106,880 shares during the last quarter. Parnassus Investments LLC increased its holdings in Brookfield Renewable by 46.6% during the 4th quarter. Parnassus Investments LLC now owns 3,910,496 shares of the company’s stock worth $108,164,000 after purchasing an additional 1,242,858 shares during the last quarter. ClearBridge Investments Ltd increased its holdings in Brookfield Renewable by 31.1% during the 4th quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company’s stock worth $80,071,000 after purchasing an additional 686,319 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Brookfield Renewable by 26.0% during the 3rd quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock worth $81,291,000 after purchasing an additional 504,060 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in Brookfield Renewable by 27.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company’s stock worth $62,295,000 after purchasing an additional 490,448 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

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.