Edgestream Partners L.P. Acquires New Shares in Brookfield Renewable Co. (NYSE:BEPC)

Edgestream Partners L.P. bought a new stake in Brookfield Renewable Co. (NYSE:BEPC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 61,450 shares of the company’s stock, valued at approximately $1,510,000.

Several other hedge funds also recently bought and sold shares of BEPC. Allspring Global Investments Holdings LLC lifted its position in Brookfield Renewable by 159.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 56,546 shares of the company’s stock worth $1,628,000 after purchasing an additional 34,780 shares during the period. Vanguard Group Inc. lifted its holdings in Brookfield Renewable by 5.2% during the third quarter. Vanguard Group Inc. now owns 5,087,794 shares of the company’s stock worth $121,802,000 after acquiring an additional 250,617 shares in the last quarter. CIBC Asset Management Inc increased its stake in Brookfield Renewable by 24.8% during the 4th quarter. CIBC Asset Management Inc now owns 1,649,627 shares of the company’s stock worth $47,639,000 after purchasing an additional 327,785 shares in the last quarter. Investment Partners Asset Management Inc. acquired a new stake in shares of Brookfield Renewable during the fourth quarter worth $1,279,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Brookfield Renewable by 7.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 748,015 shares of the company’s stock worth $21,564,000 after buying an additional 53,391 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Price Performance

Brookfield Renewable stock traded up $0.79 during midday trading on Monday, reaching $28.84. The company’s stock had a trading volume of 815,335 shares, compared to its average volume of 1,001,633. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $32.83. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.82. The stock has a market cap of $5.18 billion, a PE ratio of -62.69 and a beta of 1.18. The business has a 50-day moving average price of $30.35 and a 200-day moving average price of $27.34.

Brookfield Renewable (NYSE:BEPC) last issued its earnings results on Friday, May 3rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.05). Brookfield Renewable had a net margin of 7.10% and a return on equity of 2.19%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. On average, sell-side analysts predict that Brookfield Renewable Co. will post -0.99 EPS for the current year.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Friday, May 31st. Brookfield Renewable’s dividend payout ratio is presently -308.69%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price target on shares of Brookfield Renewable from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th.

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.