Edgemoor Investment Advisors Inc. Acquires 2,118 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Edgemoor Investment Advisors Inc. increased its position in Brookfield Renewable Co. (NYSE:BEPC) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,876 shares of the company’s stock after purchasing an additional 2,118 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Brookfield Renewable were worth $1,214,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in Brookfield Renewable by 99.4% in the third quarter. US Bancorp DE now owns 3,041 shares of the company’s stock valued at $99,000 after acquiring an additional 1,516 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 worth $1,359,000 after purchasing an additional 2,584 shares in the last quarter. Swiss National Bank grew its position in shares of Brookfield Renewable by 0.8% during the third quarter. Swiss National Bank now owns 407,450 shares of the company’s stock worth $13,325,000 after purchasing an additional 3,200 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in Brookfield Renewable by 35.1% during the third quarter. Kayne Anderson Capital Advisors LP now owns 16,883 shares of the company’s stock valued at $551,000 after buying an additional 4,384 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Brookfield Renewable by 57.1% during the third quarter. Meeder Asset Management Inc. now owns 16,147 shares of the company’s stock valued at $527,000 after buying an additional 5,869 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd.

Brookfield Renewable Stock Performance

Shares of BEPC stock opened at $28.23 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $35.14. The business has a 50-day simple moving average of $27.08 and a 200-day simple moving average of $29.25. The stock has a market cap of $4.09 billion, a PE ratio of -31.72 and a beta of 1.20.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, January 31st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a negative return on equity of 0.06% and a negative net margin of 0.15%.

Brookfield Renewable Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.373 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a yield of 5.29%. Brookfield Renewable’s dividend payout ratio is currently -167.42%.

Brookfield Renewable 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.