Tsfg LLC Has $29,000 Stake in Brookfield Renewable Co. (NYSE:BEPC)

Tsfg LLC decreased its position in Brookfield Renewable Co. (NYSE:BEPC) by 34.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,026 shares of the company’s stock after selling 550 shares during the quarter. Tsfg LLC’s holdings in Brookfield Renewable were worth $29,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Brookfield Renewable by 159.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 56,546 shares of the company’s stock valued at $1,628,000 after purchasing an additional 34,780 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Brookfield Renewable by 24.8% in the 4th quarter. CIBC Asset Management Inc now owns 1,649,627 shares of the company’s stock valued at $47,639,000 after acquiring an additional 327,785 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Brookfield Renewable by 7.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 748,015 shares of the company’s stock valued at $21,564,000 after acquiring an additional 53,391 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Brookfield Renewable by 67.1% in the 1st 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 in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Brookfield Renewable by 16.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 176,654 shares of the company’s stock valued at $4,340,000 after acquiring an additional 25,584 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC traded up $0.86 during trading on Thursday, reaching $29.10. 297,415 shares of the stock were exchanged, compared to its average volume of 977,617. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $32.83. The firm has a market cap of $5.23 billion, a PE ratio of -61.37 and a beta of 1.18. The stock has a 50-day moving average price of $29.06 and a 200-day moving average price of $27.23. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.82.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Friday, August 30th. Brookfield Renewable’s dividend payout ratio is presently -308.70%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their price objective on Brookfield Renewable from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th.

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.