Seven Eight Capital LP Has $1.56 Million Stock Holdings in Brookfield Renewable Co. (NYSE:BEPC)

Seven Eight Capital LP decreased its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC) by 23.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,925 shares of the company’s stock after selling 17,097 shares during the period. Seven Eight Capital LP’s holdings in Brookfield Renewable were worth $1,559,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BEPC. CIBC Asset Management Inc grew its position in shares of Brookfield Renewable by 24.8% during the 4th quarter. CIBC Asset Management Inc now owns 1,649,627 shares of the company’s stock worth $47,639,000 after buying an additional 327,785 shares during the period. The Manufacturers Life Insurance Company increased its stake in Brookfield Renewable by 7.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 748,015 shares of the company’s stock valued at $21,564,000 after purchasing an additional 53,391 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Brookfield Renewable by 67.1% during the first quarter. Russell Investments Group Ltd. now owns 206,733 shares of the company’s stock valued at $5,079,000 after purchasing an additional 83,003 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Brookfield Renewable by 16.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 176,654 shares of the company’s stock worth $4,340,000 after purchasing an additional 25,584 shares in the last quarter. Finally, AMF Tjanstepension AB bought a new position in shares of Brookfield Renewable during the 1st quarter worth about $6,883,000. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Stock Performance

Shares of BEPC stock opened at $30.16 on Friday. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $32.83. The firm has a market capitalization of $5.42 billion, a PE ratio of -65.33 and a beta of 1.18. The firm has a fifty day simple moving average of $28.58 and a two-hundred day simple moving average of $27.75. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87.

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

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.355 per share. The ex-dividend date is Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 4.71%. Brookfield Renewable’s payout ratio is -308.70%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price target on Brookfield Renewable from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note 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.