Pinnacle Wealth Management Group Inc. Decreases Stake in Brookfield Renewable Co. (NYSE:BEPC)

Pinnacle Wealth Management Group Inc. decreased its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,900 shares of the company’s stock after selling 800 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in Brookfield Renewable were worth $357,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Harvest Portfolios Group Inc. grew its position in Brookfield Renewable by 15.0% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company’s stock valued at $9,733,000 after acquiring an additional 38,853 shares during the last quarter. A. D. Beadell Investment Counsel Inc. boosted its stake in shares of Brookfield Renewable by 252.7% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 44,265 shares of the company’s stock valued at $1,224,000 after purchasing an additional 31,715 shares during the period. Green Alpha Advisors LLC grew its holdings in shares of Brookfield Renewable by 55.8% in the fourth quarter. Green Alpha Advisors LLC now owns 138,976 shares of the company’s stock worth $3,844,000 after purchasing an additional 49,748 shares during the last quarter. Bank of Montreal Can increased its stake in Brookfield Renewable by 1.4% in the 3rd quarter. Bank of Montreal Can now owns 1,139,177 shares of the company’s stock worth $37,444,000 after buying an additional 16,033 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Brookfield Renewable by 17.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 181,310 shares of the company’s stock valued at $5,922,000 after buying an additional 27,550 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

BEPC stock opened at $26.48 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 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 business has a 50-day moving average price of $29.70 and a 200 day moving average price of $29.73. The company has a market capitalization of $3.84 billion, a P/E ratio of -32.29 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.37 billion. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. During the same quarter in the prior year, the business posted ($0.14) earnings per share. As a group, equities research analysts forecast that Brookfield Renewable Co. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.36%. The ex-dividend date was Friday, November 29th. Brookfield Renewable’s payout ratio is -173.17%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upgraded shares of Brookfield Renewable from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $32.00 to $34.00 in a research note on Thursday, December 12th.

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.