Parnassus Investments LLC Raises Position in Brookfield Renewable Co. (NYSE:BEPC)

Parnassus Investments LLC lifted its position in shares of Brookfield Renewable Co. (NYSE:BEPC) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,667,638 shares of the company’s stock after acquiring an additional 94,710 shares during the quarter. Parnassus Investments LLC owned 1.48% of Brookfield Renewable worth $87,125,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BEPC. CWM LLC lifted its holdings in shares of Brookfield Renewable by 9.5% in the 2nd quarter. CWM LLC now owns 4,069 shares of the company’s stock valued at $115,000 after buying an additional 353 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Brookfield Renewable by 1.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,126 shares of the company’s stock valued at $827,000 after acquiring an additional 446 shares during the period. Dearborn Partners LLC boosted its position in shares of Brookfield Renewable by 3.2% during the 3rd quarter. Dearborn Partners LLC now owns 16,100 shares of the company’s stock worth $526,000 after purchasing an additional 500 shares in the last quarter. Smith Salley Wealth Management grew its stake in shares of Brookfield Renewable by 2.2% during the 2nd quarter. Smith Salley Wealth Management now owns 26,470 shares of the company’s stock worth $751,000 after purchasing an additional 563 shares during the period. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Brookfield Renewable by 49.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock valued at $44,000 after purchasing an additional 592 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Trading Down 0.1 %

Shares of NYSE:BEPC opened at $30.05 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. The business’s 50 day simple moving average is $31.21 and its 200-day simple moving average is $30.07. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $35.14.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.37 billion. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. During the same period in the prior year, the firm posted ($0.14) earnings per share. Equities analysts anticipate that Brookfield Renewable Co. will post -1.04 EPS for the current year.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 4.73%. Brookfield Renewable’s payout ratio is -173.17%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th.

Brookfield Renewable Company 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.