Connor Clark & Lunn Investment Management Ltd. Trims Stake in Brookfield Renewable Co. (NYSE:BEPC)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 785,733 shares of the company’s stock after selling 36,867 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brookfield Renewable were worth $25,653,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BEPC. Vanguard Group Inc. lifted 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 buying an additional 47,139 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in Brookfield Renewable by 111.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock worth $47,000 after acquiring an additional 1,000 shares during the period. CANADA LIFE ASSURANCE Co purchased a new position in Brookfield Renewable during the first quarter valued at approximately $8,979,000. Toronto Dominion Bank boosted its position in shares of Brookfield Renewable by 57.0% in the first quarter. Toronto Dominion Bank now owns 96,910 shares of the company’s stock worth $2,381,000 after purchasing an additional 35,192 shares during the period. Finally, Guardian Capital Advisors LP increased its stake in shares of Brookfield Renewable by 18.4% in the first quarter. Guardian Capital Advisors LP now owns 20,784 shares of the company’s stock worth $511,000 after purchasing an additional 3,233 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

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

Brookfield Renewable Stock Performance

NYSE BEPC opened at $31.34 on Thursday. The business has a 50-day moving average price of $31.31 and a 200-day moving average price of $30.09. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of -38.22 and a beta of 1.20. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89.

Brookfield Renewable (NYSE:BEPC) last posted its 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 company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. During the same period in the previous year, the business posted ($0.14) earnings per share. As a group, equities research analysts predict that Brookfield Renewable Co. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.53%. Brookfield Renewable’s dividend payout ratio is currently -173.17%.

Brookfield Renewable Company 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.