Brookfield Renewable Co. (NYSE:BEPC) Short Interest Down 12.4% in March

Brookfield Renewable Co. (NYSE:BEPC) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 5,670,000 shares, a decrease of 12.4% from the February 28th total of 6,470,000 shares. Based on an average daily volume of 1,010,000 shares, the short-interest ratio is currently 5.6 days. Approximately 3.9% of the company’s stock are short sold.

Institutional Trading of Brookfield Renewable

A number of institutional investors and hedge funds have recently made changes to their positions in BEPC. Cerity Partners LLC boosted its position in Brookfield Renewable by 93.3% during the 3rd quarter. Cerity Partners LLC now owns 18,028 shares of the company’s stock valued at $589,000 after purchasing an additional 8,701 shares during the period. Townsquare Capital LLC acquired a new position in shares of Brookfield Renewable during the third quarter valued at $254,000. Glenmede Trust Co. NA acquired a new position in shares of Brookfield Renewable during the third quarter valued at $535,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Brookfield Renewable by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,011 shares of the company’s stock worth $3,302,000 after acquiring an additional 2,017 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Brookfield Renewable by 16.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 231,990 shares of the company’s stock valued at $7,577,000 after purchasing an additional 32,897 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BEPC. Barclays began coverage on shares of Brookfield Renewable in a research report on Wednesday. They set an “equal weight” rating and a $31.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company reduced their price target on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd.

Brookfield Renewable Stock Performance

Brookfield Renewable stock traded up $0.48 during mid-day trading on Thursday, reaching $28.95. The company’s stock had a trading volume of 561,916 shares, compared to its average volume of 957,278. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. Brookfield Renewable has a twelve month low of $21.35 and a twelve month high of $35.14. The business has a 50 day moving average price of $27.62 and a 200-day moving average price of $29.25. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -32.53 and a beta of 1.20.

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

Brookfield Renewable Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a dividend of $0.373 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 5.15%. Brookfield Renewable’s dividend payout ratio is -167.42%.

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.