Carmel Capital Partners LLC Acquires 2,897 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Carmel Capital Partners LLC grew its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 7.9% in the fourth quarter, Holdings Channel reports. The fund owned 39,619 shares of the company’s stock after buying an additional 2,897 shares during the quarter. Carmel Capital Partners LLC’s holdings in Brookfield Renewable were worth $1,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in Brookfield Renewable during the 3rd quarter valued at $31,000. Spirit of America Management Corp NY raised its holdings in Brookfield Renewable by 87.0% during the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock valued at $59,000 after buying an additional 1,000 shares during the period. US Bancorp DE raised its holdings in Brookfield Renewable by 99.4% during the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company’s stock valued at $99,000 after buying an additional 1,516 shares during the period. Quarry LP purchased a new stake in Brookfield Renewable during the 3rd quarter valued at $133,000. Finally, IFP Advisors Inc raised its holdings in Brookfield Renewable by 99.7% during the 4th quarter. IFP Advisors Inc now owns 4,711 shares of the company’s stock valued at $130,000 after buying an additional 2,352 shares during the period. 75.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BEPC has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd.

Brookfield Renewable Stock Performance

BEPC stock opened at $27.34 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89. The business’s fifty day simple moving average is $27.07 and its two-hundred day simple moving average is $29.25. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $35.14. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -30.71 and a beta of 1.20.

Brookfield Renewable (NYSE:BEPC) last announced 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 return on equity of 0.06% and a negative net margin of 0.15%.

Brookfield Renewable Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. The ex-dividend date is Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.46%. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio (DPR) is currently -167.42%.

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.