Edgestream Partners L.P. Invests $4.06 Million in Brookfield Renewable Co. (NYSE:BEPC)

Edgestream Partners L.P. acquired a new position in shares of Brookfield Renewable Co. (NYSE:BEPC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 146,926 shares of the company’s stock, valued at approximately $4,064,000.

A number of other hedge funds have also modified their holdings of BEPC. Robeco Schweiz AG purchased a new stake in Brookfield Renewable in the 4th quarter worth approximately $55,680,000. CIBC Asset Management Inc grew its stake in Brookfield Renewable by 26.0% in the 3rd quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock worth $81,291,000 after acquiring an additional 504,060 shares during the period. Baillie Gifford & Co. grew its stake in Brookfield Renewable by 58.5% in the 4th quarter. Baillie Gifford & Co. now owns 663,077 shares of the company’s stock worth $18,341,000 after acquiring an additional 244,706 shares during the period. Asset Management Advisors LLC grew its stake in Brookfield Renewable by 133.0% in the 3rd quarter. Asset Management Advisors LLC now owns 195,140 shares of the company’s stock worth $6,373,000 after acquiring an additional 111,390 shares during the period. Finally, Parnassus Investments LLC grew its stake in Brookfield Renewable by 3.7% in the 3rd quarter. Parnassus Investments LLC now owns 2,667,638 shares of the company’s stock worth $87,125,000 after acquiring an additional 94,710 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Stock Up 2.7 %

Shares of BEPC opened at $27.69 on Friday. The firm has a market cap of $4.01 billion, a PE ratio of -31.11 and a beta of 1.20. The company’s fifty day moving average is $27.04 and its two-hundred day moving average is $29.24. Brookfield Renewable Co. has a fifty-two week low of $21.35 and a fifty-two week 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 announced 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company lowered their target price on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd.

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.