CIBC Asset Management Inc Grows Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

CIBC Asset Management Inc grew its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 26.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,443,111 shares of the company’s stock after buying an additional 504,060 shares during the period. CIBC Asset Management Inc owned 1.36% of Brookfield Renewable worth $81,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Brookfield Renewable by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 5,244,258 shares of the company’s stock valued at $128,851,000 after purchasing an additional 47,139 shares in the last quarter. Principal Financial Group Inc. increased its stake in Brookfield Renewable by 1.7% in the 2nd quarter. Principal Financial Group Inc. now owns 4,757,977 shares of the company’s stock worth $135,031,000 after purchasing an additional 80,350 shares during the period. Dimensional Fund Advisors LP lifted its position in Brookfield Renewable by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock valued at $59,359,000 after purchasing an additional 191,550 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Brookfield Renewable by 4,491.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,940,525 shares of the company’s stock valued at $55,072,000 after buying an additional 1,898,258 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of Brookfield Renewable by 13.3% in the second quarter. Clearbridge Investments LLC now owns 1,556,531 shares of the company’s stock valued at $44,179,000 after acquiring an additional 182,717 shares during the period. Institutional investors own 75.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reduced their price target on Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th.

Brookfield Renewable Trading Up 1.4 %

NYSE:BEPC opened at $30.34 on Friday. The firm’s fifty day simple moving average is $31.10 and its 200 day simple moving average is $29.93. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $35.14. The company has a current ratio of 0.51, a quick ratio of 0.40 and a debt-to-equity ratio of 0.89.

Brookfield Renewable (NYSE:BEPC) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.37 billion. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Equities analysts predict that Brookfield Renewable Co. will post -1.02 earnings per share for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.355 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 annualized dividend and a dividend yield of 4.68%. Brookfield Renewable’s payout ratio is currently -173.17%.

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.