Short Interest in Brookfield Renewable Co. (NYSE:BEPC) Rises By 34.2%

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company lowered their target price on 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. lowered their price target on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd.

Brookfield Renewable Stock Performance

Shares of Brookfield Renewable stock opened at $26.47 on Tuesday. 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 has a 12 month low of $21.35 and a 12 month high of $35.14. The business has a fifty day simple moving average of $27.14 and a 200-day simple moving average of $29.28. The stock has a market cap of $3.84 billion, a PE ratio of -29.74 and a beta of 1.22.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings data on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping 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 company also recently disclosed 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 represents a $1.49 annualized dividend and a dividend yield of 5.64%. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -167.42%.

Institutional Trading of Brookfield Renewable

Several hedge funds and other institutional investors have recently modified their holdings of the company. Curio Wealth LLC bought a new position in Brookfield Renewable during the fourth quarter valued at about $26,000. Truvestments Capital LLC bought a new position in Brookfield Renewable during the third quarter valued at about $31,000. Atala Financial Inc bought a new position in Brookfield Renewable during the fourth quarter valued at about $27,000. Dunhill Financial LLC bought a new position in Brookfield Renewable during the fourth quarter valued at about $41,000. Finally, Measured Risk Portfolios Inc. bought a new position in Brookfield Renewable during the fourth quarter valued at about $52,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

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.