Bank of Montreal Can Lowers Stake in Brookfield Renewable Co. (NYSE:BEPC)

Bank of Montreal Can reduced its position in Brookfield Renewable Co. (NYSE:BEPC) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,072,234 shares of the company’s stock after selling 66,943 shares during the quarter. Bank of Montreal Can owned approximately 0.74% of Brookfield Renewable worth $29,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in Brookfield Renewable by 152.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,013 shares of the company’s stock worth $56,000 after buying an additional 1,217 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Brookfield Renewable by 7.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 586,602 shares of the company’s stock worth $16,247,000 after acquiring an additional 41,542 shares during the period. Aviva PLC purchased a new stake in shares of Brookfield Renewable during the fourth quarter worth about $2,066,000. Geode Capital Management LLC raised its stake in Brookfield Renewable by 14.4% during the 4th quarter. Geode Capital Management LLC now owns 1,429,290 shares of the company’s stock valued at $39,423,000 after purchasing an additional 179,424 shares during the period. Finally, National Bank of Canada FI lifted its holdings in Brookfield Renewable by 7.2% in the 4th quarter. National Bank of Canada FI now owns 453,445 shares of the company’s stock worth $12,555,000 after purchasing an additional 30,490 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on BEPC. Wells Fargo & Company cut their price objective on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays assumed coverage on shares of Brookfield Renewable in a research note on Wednesday, April 2nd. They set an “equal weight” rating and a $31.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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

NYSE:BEPC opened at $25.91 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.27 and a quick ratio of 0.51. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -29.11 and a beta of 1.16. Brookfield Renewable Co. has a 1 year low of $21.35 and a 1 year high of $35.14. The stock’s 50 day simple moving average is $27.72 and its two-hundred day simple moving average is $29.01.

Brookfield Renewable (NYSE:BEPC) last released its quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a negative net margin of 0.15% and a negative return on equity of 0.06%.

Brookfield Renewable Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a $0.373 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 5.76%. 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%.

Brookfield Renewable Company 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.