Gotham Asset Management LLC Boosts Holdings in Brookfield Renewable Co. (NYSE:BEPC)

Gotham Asset Management LLC lifted its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 77.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 812,871 shares of the company’s stock after purchasing an additional 354,008 shares during the period. Gotham Asset Management LLC owned about 0.56% of Brookfield Renewable worth $22,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BEPC. Dunhill Financial LLC purchased a new stake in Brookfield Renewable during the 4th quarter worth approximately $41,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Brookfield Renewable in the fourth quarter worth approximately $208,000. Baird Financial Group Inc. increased its position in shares of Brookfield Renewable by 1.9% during the fourth quarter. Baird Financial Group Inc. now owns 1,930,901 shares of the company’s stock worth $53,409,000 after purchasing an additional 36,670 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Brookfield Renewable in the 4th quarter valued at $216,000. Finally, Anson Funds Management LP purchased a new position in Brookfield Renewable in the 4th quarter valued at $830,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Stock Up 2.4 %

Shares of BEPC opened at $28.92 on Friday. The stock has a fifty day simple moving average of $27.72 and a two-hundred day simple moving average of $28.42. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $4.19 billion, a PE ratio of -32.49 and a beta of 1.15. Brookfield Renewable Co. has a 52-week low of $23.73 and a 52-week high of $35.14.

Brookfield Renewable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BEPC. Barclays initiated coverage on shares of Brookfield Renewable in a report on Wednesday, April 2nd. They set an “equal weight” rating and a $31.00 target price for the company. JPMorgan Chase & Co. dropped 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. Finally, Wells Fargo & Company decreased their target price on shares of Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th.

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.