Various hedge funds have recently adjusted their holdings in Brookfield Renewable (BEPC). Gulf International Bank UK Ltd increased its stake by 161.9%, now owning 1,197 shares valued at $29,000. Abich Financial Wealth Management’s stake also grew by 49.7%, totaling 1,783 shares worth $44,000. Beach Investment Counsel acquired a new position valued at $46,000 in the second quarter. UniSuper Management raised its stake by 111.1%, owning 1,900 shares valued at $47,000 after purchasing an additional 1,000 shares. GoalVest Advisory bought a new position worth $54,000. Overall, institutional investors control 75.12% of the company’s stock.
Price Performance
BEPC opened at $32.47 on Friday. The company has a market cap of $5.83 billion, debt-to-equity ratio of 0.87, and a price-to-earnings ratio of -70.59. Its 52-week range is $21.35 to $33.17, with moving averages at $29.72 for 50 days and $28.76 for 200 days.
Quarterly Earnings
On August 2, Brookfield Renewable reported an EPS of ($0.28), slightly below the expected ($0.27). The revenue was $1.48 billion, compared to the $1.51 billion forecast. Analysts expect an EPS of -1.02 for the fiscal year.
Dividend Announcement
The company declared a quarterly dividend of $0.355, paid on September 27, and has a yield of 4.37%. The dividend payout ratio is -308.70%.
New Price Targets
JPMorgan Chase lowered its price target for Brookfield Renewable from $34.00 to $32.00, maintaining a “neutral” rating.
Company Profile
Brookfield Renewable operates in renewable energy, mainly in the U.S., Europe, Colombia, and Brazil, with an installed capacity of about 19,161 megawatts.
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