Intech Investment Management LLC Acquires 59,630 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Intech Investment Management LLC increased its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC) by 135.3% during the third quarter, Holdings Channel.com reports. The firm owned 103,699 shares of the company’s stock after buying an additional 59,630 shares during the period. Intech Investment Management LLC’s holdings in Brookfield Renewable were worth $3,390,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Harvest Portfolios Group Inc. boosted its position in Brookfield Renewable by 15.0% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company’s stock valued at $9,733,000 after acquiring an additional 38,853 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Brookfield Renewable by 51.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 151,868 shares of the company’s stock valued at $3,700,000 after purchasing an additional 51,372 shares during the last quarter. Toronto Dominion Bank raised its holdings in 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 in the last quarter. Asset Management Advisors LLC purchased a new stake in shares of Brookfield Renewable during the second quarter valued at about $2,377,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Brookfield Renewable by 0.9% in 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. 75.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Brookfield Renewable Stock Down 3.4 %

Brookfield Renewable stock opened at $30.69 on Friday. Brookfield Renewable Co. has a 1-year low of $21.35 and a 1-year high of $35.14. The business has a fifty day moving average price of $31.35 and a 200-day moving average price of $30.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of -37.43 and a beta of 1.20.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the firm posted ($0.14) EPS. Equities research analysts forecast that Brookfield Renewable Co. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued 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 4.63%. Brookfield Renewable’s dividend payout ratio is currently -173.17%.

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.