Corrado Advisors LLC Sells 2,113 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Corrado Advisors LLC cut its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,944 shares of the company’s stock after selling 2,113 shares during the period. Corrado Advisors LLC’s holdings in Brookfield Renewable were worth $1,658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Truvestments Capital LLC bought a new position in Brookfield Renewable in the 3rd quarter valued at $31,000. Spirit of America Management Corp NY boosted its holdings in Brookfield Renewable by 87.0% in the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock valued at $59,000 after purchasing an additional 1,000 shares during the period. Signaturefd LLC boosted its holdings in Brookfield Renewable by 250.7% in the 3rd quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock valued at $72,000 after purchasing an additional 1,567 shares during the period. US Bancorp DE boosted its holdings in Brookfield Renewable by 99.4% in the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company’s stock valued at $99,000 after purchasing an additional 1,516 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Brookfield Renewable by 99.7% in the 4th quarter. IFP Advisors Inc now owns 4,711 shares of the company’s stock valued at $130,000 after purchasing an additional 2,352 shares during the period. 75.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on BEPC. JPMorgan Chase & Co. cut their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd.

Brookfield Renewable Stock Performance

Brookfield Renewable stock opened at $28.58 on Thursday. The firm’s fifty day moving average price is $27.19 and its 200-day moving average price is $29.28. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27. The stock has a market cap of $4.14 billion, a P/E ratio of -32.11 and a beta of 1.22. Brookfield Renewable Co. has a fifty-two week low of $21.35 and a fifty-two week high of $35.14.

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, beating 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.22%. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio (DPR) is -159.55%.

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.