Brookfield Renewable Co. (NYSE:BEPC) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in Brookfield Renewable Co. (NYSE:BEPC) by 54.9% in the third quarter, Holdings Channel reports. The fund owned 7,204 shares of the company’s stock after selling 8,767 shares during the period. Amalgamated Bank’s holdings in Brookfield Renewable were worth $235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BEPC. Hexagon Capital Partners LLC increased its holdings in shares of Brookfield Renewable by 468.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after buying an additional 623 shares during the last quarter. Abich Financial Wealth Management LLC grew its position in Brookfield Renewable by 49.7% in the first quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after acquiring an additional 592 shares during the period. Beach Investment Counsel Inc. PA acquired a new stake in Brookfield Renewable during the second quarter worth $46,000. UniSuper Management Pty Ltd raised its position in Brookfield Renewable by 111.1% in the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock valued at $47,000 after purchasing an additional 1,000 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Brookfield Renewable by 250.7% in the 3rd quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock valued at $72,000 after purchasing an additional 1,567 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. dropped their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th.

Brookfield Renewable Stock Down 0.8 %

Shares of NYSE:BEPC opened at $30.09 on Monday. The firm has a market capitalization of $5.41 billion, a PE ratio of -36.69 and a beta of 1.20. Brookfield Renewable Co. has a 1 year low of $21.35 and a 1 year high of $35.14. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.40. The firm’s 50-day moving average is $31.15 and its two-hundred day moving average is $30.05.

Brookfield Renewable (NYSE:BEPC) last announced its earnings results on Friday, November 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the company earned ($0.14) earnings per share. Analysts predict that Brookfield Renewable Co. will post -1.04 EPS for the current year.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 4.72%. Brookfield Renewable’s dividend payout ratio (DPR) is presently -173.17%.

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.