Brookfield Renewable Co. (NYSE:BEPC) Stock Holdings Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 11.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,212,582 shares of the company’s stock after selling 545,395 shares during the quarter. Principal Financial Group Inc.’s holdings in Brookfield Renewable were worth $137,583,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BEPC. Parnassus Investments LLC boosted its position in shares of Brookfield Renewable by 3.7% in the 3rd quarter. Parnassus Investments LLC now owns 2,667,638 shares of the company’s stock valued at $87,125,000 after purchasing an additional 94,710 shares during the period. CIBC Asset Management Inc lifted its stake in Brookfield Renewable by 26.0% during the third quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock valued at $81,291,000 after buying an additional 504,060 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Brookfield Renewable by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock worth $59,359,000 after buying an additional 191,550 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Brookfield Renewable by 4,491.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,940,525 shares of the company’s stock worth $55,072,000 after acquiring an additional 1,898,258 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Brookfield Renewable by 13.3% during the second quarter. Clearbridge Investments LLC now owns 1,556,531 shares of the company’s stock valued at $44,179,000 after acquiring an additional 182,717 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Stock Up 2.2 %

NYSE:BEPC opened at $28.30 on Friday. The business’s fifty day moving average price is $31.05 and its 200 day moving average price is $30.00. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of -34.51 and a beta of 1.19. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. Brookfield Renewable Co. has a 1-year low of $21.35 and a 1-year high of $35.14.

Brookfield Renewable (NYSE:BEPC) last issued its 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). The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.37 billion. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. During the same quarter in the prior year, the company earned ($0.14) EPS. On average, sell-side analysts forecast that Brookfield Renewable Co. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 5.02%. Brookfield Renewable’s payout ratio is -173.17%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised shares of Brookfield Renewable from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $32.00 to $34.00 in a research note on Thursday, December 12th.

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.