Oppenheimer Asset Management Inc. Purchases 49,979 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Oppenheimer Asset Management Inc. boosted its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 48.2% in the second quarter, Holdings Channel reports. The fund owned 153,760 shares of the company’s stock after acquiring an additional 49,979 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Brookfield Renewable were worth $4,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. CWM LLC increased its position in Brookfield Renewable by 9.5% during the second quarter. CWM LLC now owns 4,069 shares of the company’s stock worth $115,000 after acquiring an additional 353 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Brookfield Renewable by 1.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,126 shares of the company’s stock worth $827,000 after purchasing an additional 446 shares during the period. Moseley Investment Management Inc. raised its position in shares of Brookfield Renewable by 4.9% during the first quarter. Moseley Investment Management Inc. now owns 10,781 shares of the company’s stock valued at $265,000 after buying an additional 504 shares during the last quarter. Smith Salley Wealth Management lifted its stake in shares of Brookfield Renewable by 2.2% in the second quarter. Smith Salley Wealth Management now owns 26,470 shares of the company’s stock valued at $751,000 after buying an additional 563 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Brookfield Renewable by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 59,089 shares of the company’s stock valued at $1,701,000 after buying an additional 580 shares during the period. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Stock Up 1.2 %

Shares of BEPC stock opened at $30.37 on Tuesday. The stock has a market cap of $5.46 billion, a P/E ratio of -66.02 and a beta of 1.18. 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 stock has a fifty day moving average price of $28.57 and a 200 day moving average price of $27.69. Brookfield Renewable Co. has a one year low of $21.35 and a one year high of $32.83.

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

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable’s payout ratio is -308.70%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target on Brookfield Renewable from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th.

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.