Avanza Fonder AB Makes New Investment in Brookfield Renewable Co. (NYSE:BEPC)

Avanza Fonder AB bought a new position in Brookfield Renewable Co. (NYSE:BEPC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,380 shares of the company’s stock, valued at approximately $287,000.

Several other hedge funds have also modified their holdings of the stock. Dearborn Partners LLC boosted its position in shares of Brookfield Renewable by 3.2% in the third quarter. Dearborn Partners LLC now owns 16,100 shares of the company’s stock worth $526,000 after buying an additional 500 shares during the period. Toronto Dominion Bank lifted its stake in shares of Brookfield Renewable by 0.6% in the 3rd quarter. Toronto Dominion Bank now owns 95,118 shares of the company’s stock valued at $3,107,000 after purchasing an additional 525 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Brookfield Renewable by 468.4% during the third quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after buying an additional 623 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in shares of Brookfield Renewable by 7.0% in the 4th quarter. SeaCrest Wealth Management LLC now owns 10,013 shares of the company’s stock valued at $277,000 after acquiring an additional 653 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Brookfield Renewable by 16.9% in the third quarter. CWM LLC now owns 4,755 shares of the company’s stock worth $155,000 after buying an additional 686 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised Brookfield Renewable from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $32.00 to $34.00 in a research report on Thursday, December 12th.

Brookfield Renewable Trading Down 2.8 %

Shares of BEPC opened at $25.32 on Monday. The stock’s 50-day moving average price is $29.29 and its 200 day moving average price is $29.66. 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 Co. has a 12-month low of $21.35 and a 12-month high of $35.14. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of -30.88 and a beta of 1.23.

Brookfield Renewable (NYSE:BEPC) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.32) EPS 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 for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business posted ($0.14) earnings per share. As a group, research analysts predict that Brookfield Renewable Co. will post -1.04 earnings per share for the current year.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.61%. The ex-dividend date was Friday, November 29th. Brookfield Renewable’s payout ratio is -173.17%.

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.