Norges Bank Takes $47.48 Million Position in Brookfield Renewable Co. (NYSE:BEPC)

Norges Bank purchased a new stake in shares of Brookfield Renewable Co. (NYSE:BEPC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,716,880 shares of the company’s stock, valued at approximately $47,478,000. Norges Bank owned 1.18% of Brookfield Renewable as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BEPC. Toronto Dominion Bank lifted its position in Brookfield Renewable by 0.6% during the 3rd quarter. Toronto Dominion Bank now owns 95,118 shares of the company’s stock valued at $3,107,000 after purchasing an additional 525 shares during the period. Vontobel Holding Ltd. boosted its stake in Brookfield Renewable by 2.1% in the fourth quarter. Vontobel Holding Ltd. now owns 26,020 shares of the company’s stock valued at $719,000 after acquiring an additional 542 shares during the last quarter. Modern Wealth Management LLC boosted its stake in Brookfield Renewable by 4.7% in the fourth quarter. Modern Wealth Management LLC now owns 13,767 shares of the company’s stock valued at $373,000 after acquiring an additional 623 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Brookfield Renewable by 7.0% during the 4th quarter. SeaCrest Wealth Management LLC now owns 10,013 shares of the company’s stock valued at $277,000 after acquiring an additional 653 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of Brookfield Renewable by 4.3% in the 4th quarter. Private Advisor Group LLC now owns 19,265 shares of the company’s stock valued at $533,000 after purchasing an additional 791 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BEPC has been the subject of a number of analyst reports. Barclays started coverage on Brookfield Renewable in a research note on Wednesday. They set an “equal weight” rating and a $31.00 price objective for the company. Wells Fargo & Company decreased their target price on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd.

Brookfield Renewable Stock Performance

BEPC stock opened at $25.62 on Friday. Brookfield Renewable Co. has a 1-year low of $21.35 and a 1-year high of $35.14. The business’s 50-day moving average price is $27.69 and its two-hundred day moving average price is $29.21. The firm has a market cap of $3.71 billion, a PE ratio of -28.79 and a beta of 1.16. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89.

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

Brookfield Renewable Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.82%. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

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.