TCW Group Inc. Trims Stake in Brookfield Renewable Co. (NYSE:BEPC)

TCW Group Inc. trimmed its position in Brookfield Renewable Co. (NYSE:BEPC) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,549 shares of the company’s stock after selling 499 shares during the quarter. TCW Group Inc.’s holdings in Brookfield Renewable were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning increased its position in Brookfield Renewable by 24.0% during the 3rd quarter. Creative Planning now owns 12,971 shares of the company’s stock valued at $424,000 after purchasing an additional 2,513 shares during the period. Raymond James & Associates increased its holdings in Brookfield Renewable by 7.2% during the third quarter. Raymond James & Associates now owns 83,750 shares of the company’s stock valued at $2,735,000 after buying an additional 5,599 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Brookfield Renewable by 1,268.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 74,624 shares of the company’s stock worth $2,439,000 after buying an additional 69,169 shares in the last quarter. Signaturefd LLC lifted its holdings in Brookfield Renewable by 250.7% during the third quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock worth $72,000 after buying an additional 1,567 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Brookfield Renewable during the 3rd quarter valued at $214,000. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

Shares of BEPC stock opened at $27.97 on Tuesday. Brookfield Renewable Co. has a 12-month low of $21.35 and a 12-month high of $35.14. The business’s fifty day simple moving average is $27.19 and its 200-day simple moving average is $29.28. 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 cap of $4.05 billion, a PE ratio of -31.42 and a beta of 1.22.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results 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 return on equity of 0.06% and a negative net margin of 0.15%.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.373 per share. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.34%. Brookfield Renewable’s payout ratio is -167.42%.

Analyst Ratings Changes

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

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.