ClearBridge Investments Ltd Grows Holdings in Brookfield Renewable Co. (NYSE:BEPC)

ClearBridge Investments Ltd boosted its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC) by 31.1% during the 4th quarter, HoldingsChannel reports. The firm owned 2,894,836 shares of the company’s stock after purchasing an additional 686,319 shares during the period. Brookfield Renewable accounts for approximately 2.1% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 20th biggest holding. ClearBridge Investments Ltd’s holdings in Brookfield Renewable were worth $80,071,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BEPC. Curio Wealth LLC purchased a new stake in Brookfield Renewable during the 4th quarter valued at approximately $26,000. Atala Financial Inc purchased a new stake in shares of Brookfield Renewable during the fourth quarter worth approximately $27,000. Spirit of America Management Corp NY lifted its stake in shares of Brookfield Renewable by 87.0% in the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock worth $59,000 after acquiring an additional 1,000 shares during the period. Signaturefd LLC lifted its position in Brookfield Renewable by 58.8% in the fourth quarter. Signaturefd LLC now owns 3,480 shares of the company’s stock valued at $96,000 after purchasing an additional 1,288 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Brookfield Renewable by 99.7% in the fourth 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 in the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, February 3rd.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $28.00 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $4.06 billion, a P/E ratio of -31.47 and a beta of 1.20. The firm has a 50-day moving average price of $27.43 and a two-hundred day moving average price of $29.28. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $35.14.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings data on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping 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 will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.33%. 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. Brookfield Renewable’s payout ratio is -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.