Wells Fargo & Company MN Decreases Stake in Brookfield Renewable Co. (NYSE:BEPC)

Wells Fargo & Company MN cut its position in Brookfield Renewable Co. (NYSE:BEPC) by 6.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,006,122 shares of the company’s stock after selling 70,776 shares during the quarter. Wells Fargo & Company MN’s holdings in Brookfield Renewable were worth $27,829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BEPC. Geode Capital Management LLC raised its position in shares of Brookfield Renewable by 14.4% during the 4th quarter. Geode Capital Management LLC now owns 1,429,290 shares of the company’s stock worth $39,423,000 after acquiring an additional 179,424 shares in the last quarter. National Bank of Canada FI raised its holdings in Brookfield Renewable by 7.2% during the fourth quarter. National Bank of Canada FI now owns 453,445 shares of the company’s stock worth $12,555,000 after purchasing an additional 30,490 shares in the last quarter. Cannell & Spears LLC lifted its position in shares of Brookfield Renewable by 342.2% during the 4th quarter. Cannell & Spears LLC now owns 159,704 shares of the company’s stock worth $4,417,000 after buying an additional 123,587 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Brookfield Renewable by 15.7% in the 4th quarter. Meeder Asset Management Inc. now owns 18,685 shares of the company’s stock valued at $517,000 after buying an additional 2,538 shares in the last quarter. Finally, ClearBridge Investments Ltd grew its position in shares of Brookfield Renewable by 31.1% in the 4th quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company’s stock valued at $80,071,000 after buying an additional 686,319 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on BEPC shares. JPMorgan Chase & Co. decreased their price objective 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 dropped their price target 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. Finally, Barclays assumed coverage on Brookfield Renewable in a research report on Wednesday, April 2nd. They set an “equal weight” rating and a $31.00 price target on the stock.

Brookfield Renewable Price Performance

Shares of NYSE:BEPC opened at $26.34 on Friday. Brookfield Renewable Co. has a one year low of $21.35 and a one year high of $35.14. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -29.59 and a beta of 1.16. The company has a 50-day simple moving average of $27.71 and a 200-day simple moving average of $28.97. 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 posted its quarterly earnings data 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 5.67%. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

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.