Corrado Advisors LLC Decreases Stock Holdings in Brookfield Renewable Co. (NYSE:BEPC)

Corrado Advisors LLC decreased its position in Brookfield Renewable Co. (NYSE:BEPC) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,944 shares of the company’s stock after selling 2,113 shares during the quarter. Corrado Advisors LLC’s holdings in Brookfield Renewable were worth $1,658,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of Brookfield Renewable in the third quarter valued at about $31,000. Spirit of America Management Corp NY increased its position 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 valued at $59,000 after acquiring an additional 1,000 shares during the period. Signaturefd LLC increased its position in shares of Brookfield Renewable by 250.7% in the third quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock valued at $72,000 after acquiring an additional 1,567 shares during the period. US Bancorp DE increased its position 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 valued at $99,000 after acquiring an additional 1,516 shares during the period. Finally, IFP Advisors Inc increased its position in shares of Brookfield Renewable by 99.7% in the fourth quarter. IFP Advisors Inc now owns 4,711 shares of the company’s stock valued at $130,000 after acquiring an additional 2,352 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Trading Up 0.6 %

Shares of BEPC opened at $28.58 on Thursday. The firm’s 50-day moving average price is $27.19 and its 200-day moving average price is $29.28. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of -32.11 and a beta of 1.22. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. Brookfield Renewable Co. has a 1-year low of $21.35 and a 1-year high of $35.14.

Brookfield Renewable (NYSE:BEPC) last announced its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.373 per share. The ex-dividend date is Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 5.22%. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s payout ratio is presently -159.55%.

Wall Street Analysts Forecast Growth

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

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.