The Manufacturers Life Insurance Company Sells 124,707 Shares of Brookfield Renewable Co. (NYSE:BEPC)

The Manufacturers Life Insurance Company reduced its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 23.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 396,751 shares of the company’s stock after selling 124,707 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Brookfield Renewable were worth $12,963,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BEPC. Hexagon Capital Partners LLC raised its stake in shares of Brookfield Renewable by 468.4% during the third quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock valued at $25,000 after acquiring an additional 623 shares during the last quarter. Truvestments Capital LLC bought a new position in Brookfield Renewable during the 3rd quarter valued at approximately $31,000. Signaturefd LLC lifted its holdings in Brookfield Renewable by 250.7% in the 3rd 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. US Bancorp DE grew its position in shares of Brookfield Renewable by 99.4% in the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company’s stock worth $99,000 after buying an additional 1,516 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC increased its stake in shares of Brookfield Renewable by 206.6% during the second quarter. MeadowBrook Investment Advisors LLC now owns 3,750 shares of the company’s stock valued at $106,000 after buying an additional 2,527 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Trading Down 0.3 %

NYSE BEPC opened at $31.82 on Tuesday. The firm has a market capitalization of $5.72 billion, a PE ratio of -38.80 and a beta of 1.20. The stock’s 50 day moving average is $31.55 and its 200 day moving average is $30.15. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89.

Brookfield Renewable (NYSE:BEPC) last released its earnings results on Friday, November 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the company earned ($0.14) earnings per share. Research analysts forecast that Brookfield Renewable Co. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.46%. Brookfield Renewable’s dividend payout ratio is currently -173.17%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th.

About Brookfield Renewable

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.