New South Capital Management Inc. Trims Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

New South Capital Management Inc. trimmed its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 386,409 shares of the company’s stock after selling 2,530 shares during the period. New South Capital Management Inc. owned 0.22% of Brookfield Renewable worth $10,966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BEPC. Gulf International Bank UK Ltd boosted its position in shares of Brookfield Renewable by 161.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock worth $29,000 after acquiring an additional 740 shares during the last quarter. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Brookfield Renewable during the 4th quarter valued at $30,000. Abich Financial Wealth Management LLC grew its stake in shares of Brookfield Renewable by 49.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock valued at $44,000 after buying an additional 592 shares during the period. Beach Investment Counsel Inc. PA acquired a new stake in shares of Brookfield Renewable during the 2nd quarter worth $46,000. Finally, UniSuper Management Pty Ltd raised its position in shares of Brookfield Renewable by 111.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock worth $47,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

BEPC opened at $27.67 on Friday. The company has a 50 day moving average of $28.50 and a two-hundred day moving average of $27.47. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $32.83. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.87. The company has a market cap of $4.97 billion, a P/E ratio of -60.15 and a beta of 1.18.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.51 billion. On average, analysts expect that Brookfield Renewable Co. will post -1.02 earnings per share for the current year.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -308.70%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price target on Brookfield Renewable from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note 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.