Principal Financial Group Inc. Trims Stake in Brookfield Renewable Co. (NYSE:BEPC)

Principal Financial Group Inc. lowered its position in Brookfield Renewable Co. (NYSE:BEPC) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,179,668 shares of the company’s stock after selling 32,914 shares during the quarter. Principal Financial Group Inc. owned about 2.88% of Brookfield Renewable worth $115,610,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BEPC. Truvestments Capital LLC bought a new position in shares of Brookfield Renewable in the third quarter worth about $31,000. Spirit of America Management Corp NY grew its holdings in shares of Brookfield Renewable by 87.0% in the fourth quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock worth $59,000 after purchasing an additional 1,000 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Brookfield Renewable by 250.7% in the third quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock worth $72,000 after purchasing an additional 1,567 shares during the last quarter. US Bancorp DE grew its holdings in shares of Brookfield Renewable by 99.4% in the third quarter. US Bancorp DE now owns 3,041 shares of the company’s stock worth $99,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Brookfield Renewable in the third quarter worth about $133,000. 75.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on BEPC. JPMorgan Chase & Co. cut their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company cut their price target on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd.

Brookfield Renewable Stock Up 2.1 %

Shares of Brookfield Renewable stock opened at $28.32 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.27 and a quick ratio of 0.51. Brookfield Renewable Co. has a 1 year low of $21.35 and a 1 year high of $35.14. The firm’s 50-day moving average is $27.26 and its two-hundred day moving average is $29.25. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of -31.82 and a beta of 1.22.

Brookfield Renewable (NYSE:BEPC) last issued its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a negative net margin of 0.15% and a negative return on equity of 0.06%.

Brookfield Renewable Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 5.27%. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable’s dividend payout ratio is presently -159.55%.

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.