Brookfield Renewable Co. (NYSE:BEPC) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC decreased its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 48.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,835 shares of the company’s stock after selling 20,810 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Brookfield Renewable were worth $618,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. boosted 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 acquiring an additional 83,003 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Brookfield Renewable by 16.9% in the first 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 during the period. AMF Tjanstepension AB acquired a new stake in Brookfield Renewable in the first quarter worth about $6,883,000. Fifth Lane Capital LP acquired a new stake in Brookfield Renewable in the first quarter worth about $1,616,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Brookfield Renewable by 51.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 151,868 shares of the company’s stock worth $3,700,000 after purchasing an additional 51,372 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

Shares of Brookfield Renewable stock opened at $30.03 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average price is $29.41 and its two-hundred day moving average price is $28.60. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $33.17. The stock has a market cap of $5.39 billion, a PE ratio of -46.92 and a beta of 1.19.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. As a group, sell-side analysts anticipate that Brookfield Renewable Co. will post -1.02 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 4.73%. The ex-dividend date was Friday, August 30th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -221.88%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price objective on shares of Brookfield Renewable from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th.

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.