Arrowstreet Capital Limited Partnership Reduces Holdings in Brookfield Renewable Co. (NYSE:BEPC)

Arrowstreet Capital Limited Partnership decreased its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 14.9% during the fourth quarter, HoldingsChannel reports. The fund owned 2,489,102 shares of the company’s stock after selling 437,437 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Brookfield Renewable were worth $68,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC raised its position in Brookfield Renewable by 93.3% in the 3rd quarter. Cerity Partners LLC now owns 18,028 shares of the company’s stock worth $589,000 after purchasing an additional 8,701 shares during the period. Townsquare Capital LLC purchased a new stake in shares of Brookfield Renewable in the third quarter worth approximately $254,000. Glenmede Trust Co. NA bought a new stake in shares of Brookfield Renewable during the 3rd quarter worth approximately $535,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Brookfield Renewable by 2.0% during the 3rd 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. grew 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 acquiring an additional 32,897 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BEPC. JPMorgan Chase & Co. lowered 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 note on Thursday, January 23rd. Wells Fargo & Company dropped their target price on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd.

Brookfield Renewable Price Performance

NYSE BEPC opened at $27.95 on Tuesday. The company has a market cap of $4.05 billion, a PE ratio of -31.40 and a beta of 1.20. The firm’s 50 day moving average price is $27.48 and its 200-day moving average price is $29.27. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $35.14.

Brookfield Renewable (NYSE:BEPC) last announced its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a $0.373 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a yield of 5.34%. Brookfield Renewable’s 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.