Victory Capital Management Inc. Sells 395 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Victory Capital Management Inc. lessened its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,800 shares of the company’s stock after selling 395 shares during the quarter. Victory Capital Management Inc.’s holdings in Brookfield Renewable were worth $745,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BEPC. CWM LLC increased its stake in Brookfield Renewable by 9.5% in the second quarter. CWM LLC now owns 4,069 shares of the company’s stock valued at $115,000 after acquiring an additional 353 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Brookfield Renewable by 1.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,126 shares of the company’s stock valued at $827,000 after purchasing an additional 446 shares during the period. Smith Salley Wealth Management raised its holdings in shares of Brookfield Renewable by 2.2% in the 2nd quarter. Smith Salley Wealth Management now owns 26,470 shares of the company’s stock worth $751,000 after buying an additional 563 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Brookfield Renewable by 49.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after buying an additional 592 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Brookfield Renewable by 10.2% in the 1st quarter. Lazard Asset Management LLC now owns 6,465 shares of the company’s stock valued at $158,000 after buying an additional 597 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Trading Up 2.6 %

Shares of BEPC stock opened at $32.68 on Friday. The company has a market capitalization of $5.87 billion, a P/E ratio of -39.85 and a beta of 1.20. Brookfield Renewable Co. has a 12-month low of $21.35 and a 12-month high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average price of $31.47 and a 200 day moving average price of $30.15.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data 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). The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.37 billion. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. During the same period in the previous year, the business posted ($0.14) EPS. Research analysts forecast that Brookfield Renewable Co. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 4.35%. Brookfield Renewable’s payout ratio is -173.17%.

Wall Street Analysts Forecast Growth

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

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.