Oppenheimer Asset Management Inc. Boosts Stake in Brookfield Renewable Co. (NYSE:BEPC)

Oppenheimer Asset Management Inc. lifted its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 184,074 shares of the company’s stock after purchasing an additional 2,764 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Brookfield Renewable were worth $5,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BEPC. Robeco Schweiz AG purchased a new position in shares of Brookfield Renewable in the fourth quarter worth about $55,680,000. CIBC Asset Management Inc raised its stake in Brookfield Renewable by 26.0% during the third 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 period. Baillie Gifford & Co. raised 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. Asset Management Advisors LLC raised its stake in Brookfield Renewable by 133.0% during the third quarter. Asset Management Advisors LLC now owns 195,140 shares of the company’s stock worth $6,373,000 after purchasing an additional 111,390 shares during the period. Finally, Parnassus Investments LLC raised its stake in Brookfield Renewable by 3.7% during the third quarter. Parnassus Investments LLC now owns 2,667,638 shares of the company’s stock worth $87,125,000 after purchasing an additional 94,710 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Brookfield Renewable Price Performance

Brookfield Renewable stock opened at $27.87 on Friday. The company’s 50 day simple moving average is $27.18 and its 200-day simple moving average is $29.27. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -31.31 and a beta of 1.22. Brookfield Renewable Co. has a 1 year low of $21.35 and a 1 year high of $35.14. 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 (NYSE:BEPC) last released its quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) 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. Stockholders 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 dividend yield of 5.35%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable’s payout ratio is -167.42%.

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.