Kayne Anderson Capital Advisors LP Buys 4,384 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Kayne Anderson Capital Advisors LP lifted its position in Brookfield Renewable Co. (NYSE:BEPC) by 35.1% in the third quarter, HoldingsChannel.com reports. The firm owned 16,883 shares of the company’s stock after purchasing an additional 4,384 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in Brookfield Renewable were worth $551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BEPC. Swiss National Bank raised its stake in Brookfield Renewable by 0.8% during the 3rd quarter. Swiss National Bank now owns 407,450 shares of the company’s stock valued at $13,325,000 after purchasing an additional 3,200 shares during the period. Natixis Advisors LLC grew its position in shares of Brookfield Renewable by 6.6% during the third quarter. Natixis Advisors LLC now owns 41,622 shares of the company’s stock valued at $1,359,000 after purchasing an additional 2,584 shares in the last quarter. Dearborn Partners LLC increased its stake in Brookfield Renewable by 3.2% in the 3rd quarter. Dearborn Partners LLC now owns 16,100 shares of the company’s stock worth $526,000 after acquiring an additional 500 shares during the last quarter. CIBC Asset Management Inc raised 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 purchasing an additional 504,060 shares in the last quarter. Finally, Plato Investment Management Ltd increased its stake in Brookfield Renewable by 772.2% during the third quarter. Plato Investment Management Ltd now owns 78,982 shares of the company’s stock worth $2,579,000 after acquiring an additional 69,926 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Stock Performance

BEPC opened at $30.09 on Monday. The company has a market cap of $5.41 billion, a P/E ratio of -36.69 and a beta of 1.20. The company has a quick ratio of 0.40, a current ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $31.15 and its 200-day moving average price is $30.05. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $35.14.

Brookfield Renewable (NYSE:BEPC) last posted its earnings results on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The business had revenue of $1.47 billion for 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 firm earned ($0.14) earnings per share. As a group, equities analysts anticipate that Brookfield Renewable Co. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Friday, November 29th. Brookfield Renewable’s payout ratio is currently -173.17%.

Wall Street Analysts Forecast Growth

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

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.