Intech Investment Management LLC Sells 79,817 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Intech Investment Management LLC decreased its position in Brookfield Renewable Co. (NYSE:BEPC) by 77.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,882 shares of the company’s stock after selling 79,817 shares during the period. Intech Investment Management LLC’s holdings in Brookfield Renewable were worth $661,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Green Alpha Advisors LLC lifted its holdings in Brookfield Renewable by 55.8% during the fourth quarter. Green Alpha Advisors LLC now owns 138,976 shares of the company’s stock worth $3,844,000 after acquiring an additional 49,748 shares during the period. A. D. Beadell Investment Counsel Inc. increased its position in shares of Brookfield Renewable by 252.7% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 44,265 shares of the company’s stock valued at $1,224,000 after purchasing an additional 31,715 shares during the last quarter. Bank of Montreal Can increased its position in shares of Brookfield Renewable by 1.4% during the 3rd quarter. Bank of Montreal Can now owns 1,139,177 shares of the company’s stock valued at $37,444,000 after purchasing an additional 16,033 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of Brookfield Renewable in the 4th quarter worth about $287,000. Finally, Geode Capital Management LLC grew its position in Brookfield Renewable by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,249,866 shares of the company’s stock valued at $40,633,000 after buying an additional 25,558 shares during the period. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Up 0.3 %

BEPC stock opened at $29.39 on Monday. The stock has a fifty day moving average of $27.17 and a 200-day moving average of $29.27. Brookfield Renewable Co. has a fifty-two week low of $21.35 and a fifty-two week high of $35.14. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of -33.02 and a beta of 1.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27.

Brookfield Renewable (NYSE:BEPC) last posted its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 5.08%. Brookfield Renewable’s payout ratio is presently -167.42%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price target on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd.

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.