Brookfield Renewable Co. (NYSE:BEPC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Brookfield Renewable Co. (NYSE:BEPC) by 11.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,212,582 shares of the company’s stock after selling 545,395 shares during the quarter. Principal Financial Group Inc. owned approximately 2.35% of Brookfield Renewable worth $137,583,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BEPC. Hexagon Capital Partners LLC grew its holdings in Brookfield Renewable by 468.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after buying an additional 623 shares in the last quarter. Truvestments Capital LLC acquired a new position in Brookfield Renewable during the 3rd quarter worth $31,000. Signaturefd LLC grew its stake in shares of Brookfield Renewable by 250.7% in the third quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock worth $72,000 after purchasing an additional 1,567 shares in the last quarter. US Bancorp DE increased its holdings in shares of Brookfield Renewable by 99.4% during the third quarter. US Bancorp DE now owns 3,041 shares of the company’s stock valued at $99,000 after purchasing an additional 1,516 shares during the period. Finally, Quarry LP bought a new stake in shares of Brookfield Renewable during the third quarter valued at about $133,000. Institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upgraded shares of Brookfield Renewable from a “neutral” rating to an “overweight” rating and increased their target price for the company from $32.00 to $34.00 in a research report on Thursday, December 12th.

Brookfield Renewable Price Performance

NYSE BEPC opened at $28.30 on Friday. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $35.14. The firm has a market capitalization of $5.08 billion, a PE ratio of -34.51 and a beta of 1.19. The company’s 50 day simple moving average is $31.05 and its 200 day simple moving average is $30.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51.

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

Brookfield Renewable Announces Dividend

The firm also recently declared 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. This represents a $1.42 annualized dividend and a yield of 5.02%. The ex-dividend date is Friday, November 29th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -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.