Sei Investments Co. Grows Position in Brookfield Renewable Co. (NYSE:BEPC)

Sei Investments Co. boosted its stake in Brookfield Renewable Co. (NYSE:BEPC) by 26.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 23,662 shares of the company’s stock after acquiring an additional 4,916 shares during the period. Sei Investments Co.’s holdings in Brookfield Renewable were worth $672,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BEPC. Canada Pension Plan Investment Board boosted its position in shares of Brookfield Renewable by 59.2% during the second quarter. Canada Pension Plan Investment Board now owns 473,631 shares of the company’s stock worth $13,416,000 after buying an additional 176,200 shares during the period. XTX Topco Ltd acquired a new position in Brookfield Renewable in the 2nd quarter valued at about $987,000. Dimensional Fund Advisors LP grew its position in Brookfield Renewable by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock valued at $59,359,000 after acquiring an additional 191,550 shares in the last quarter. Hanson & Doremus Investment Management increased its stake in Brookfield Renewable by 7.5% during the second quarter. Hanson & Doremus Investment Management now owns 16,572 shares of the company’s stock worth $470,000 after purchasing an additional 1,151 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Brookfield Renewable by 66.5% during the second quarter. Envestnet Asset Management Inc. now owns 539,696 shares of the company’s stock worth $15,317,000 after purchasing an additional 215,592 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their target price on shares of Brookfield Renewable from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th.

Brookfield Renewable Price Performance

Shares of NYSE BEPC opened at $30.59 on Wednesday. The stock’s 50-day moving average is $29.29 and its two-hundred day moving average is $28.51. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $5.50 billion, a price-to-earnings ratio of -66.50 and a beta of 1.19. Brookfield Renewable Co. has a 1-year low of $21.35 and a 1-year high of $33.17.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Analysts forecast that Brookfield Renewable Co. will post -1.02 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.64%. Brookfield Renewable’s payout ratio is currently -308.70%.

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.