Short Interest in Brookfield Renewable Co. (NYSE:BEPC) Rises By 34.2%

Brookfield Renewable Co. (NYSE:BEPC) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 5,730,000 shares, a growth of 34.2% from the January 31st total of 4,270,000 shares. Currently, 4.0% of the shares of the company are short sold. Based on an average daily volume of 997,700 shares, the short-interest ratio is currently 5.7 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on BEPC shares. JPMorgan Chase & Co. dropped their price objective on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their price objective on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd.

Hedge Funds Weigh In On Brookfield Renewable

Several institutional investors and hedge funds have recently made changes to their positions in BEPC. Curio Wealth LLC acquired a new position in shares of Brookfield Renewable in the 4th quarter valued at $26,000. Atala Financial Inc acquired a new position in shares of Brookfield Renewable in the 4th quarter valued at $27,000. Truvestments Capital LLC acquired a new position in shares of Brookfield Renewable in the 3rd quarter valued at $31,000. Dunhill Financial LLC acquired a new position in shares of Brookfield Renewable in the 4th quarter valued at $41,000. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of Brookfield Renewable in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Stock Down 5.0 %

Shares of BEPC opened at $26.47 on Tuesday. The company has a market capitalization of $3.84 billion, a P/E ratio of -29.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.27 and a quick ratio of 0.51. Brookfield Renewable has a one year low of $21.35 and a one year high of $35.14. The business’s 50 day simple moving average is $27.14 and its 200-day simple moving average is $29.28.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a negative net margin of 0.15% and a negative return on equity of 0.06%.

Brookfield Renewable Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.373 dividend. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.64%. Brookfield Renewable’s payout ratio is -167.42%.

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.