Short Interest in Brookfield Renewable Co. (NYSE:BEPC) Expands By 34.2%

Brookfield Renewable Co. (NYSE:BEPC) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 5,730,000 shares, a growth of 34.2% from the January 31st total of 4,270,000 shares. Based on an average daily volume of 997,700 shares, the days-to-cover ratio is presently 5.7 days. Currently, 4.0% of the company’s stock are sold short.

Brookfield Renewable Price Performance

Shares of NYSE BEPC opened at $27.34 on Thursday. Brookfield Renewable has a twelve month low of $21.35 and a twelve month high of $35.14. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of -30.71 and a beta of 1.20. The business has a 50 day simple moving average of $27.07 and a 200-day simple moving average of $29.25.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.373 per share. The ex-dividend date is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 5.46%. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s payout ratio is currently -167.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BEPC shares. Wells Fargo & Company lowered their price target on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina boosted its position in Brookfield Renewable by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 59,410 shares of the company’s stock valued at $1,643,000 after purchasing an additional 370 shares during the period. Dearborn Partners LLC boosted its position in Brookfield Renewable by 3.2% during the 3rd quarter. Dearborn Partners LLC now owns 16,100 shares of the company’s stock valued at $526,000 after purchasing an additional 500 shares during the period. Toronto Dominion Bank boosted its position in Brookfield Renewable by 0.6% during the 3rd quarter. Toronto Dominion Bank now owns 95,118 shares of the company’s stock valued at $3,107,000 after purchasing an additional 525 shares during the period. Vontobel Holding Ltd. boosted its position in Brookfield Renewable by 2.1% during the 4th quarter. Vontobel Holding Ltd. now owns 26,020 shares of the company’s stock valued at $719,000 after purchasing an additional 542 shares during the period. Finally, Bank of Nova Scotia boosted its position in Brookfield Renewable by 0.3% during the 4th quarter. Bank of Nova Scotia now owns 195,067 shares of the company’s stock valued at $5,397,000 after purchasing an additional 563 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

About Brookfield Renewable

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.