Brookfield Renewable Co. (NYSE:BEPC) Short Interest Update

Brookfield Renewable Co. (NYSE:BEPCGet Rating) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,180,000 shares, an increase of 6.4% from the August 15th total of 2,990,000 shares. Based on an average trading volume of 572,200 shares, the days-to-cover ratio is presently 5.6 days. Currently, 1.9% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Brookfield Renewable by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,256,979 shares of the company’s stock worth $186,456,000 after buying an additional 28,856 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Brookfield Renewable by 67.7% during the 2nd quarter. Principal Financial Group Inc. now owns 4,070,277 shares of the company’s stock worth $144,942,000 after buying an additional 1,643,593 shares during the last quarter. BlackRock Inc. lifted its holdings in Brookfield Renewable by 4.6% during the 1st quarter. BlackRock Inc. now owns 3,830,035 shares of the company’s stock worth $167,754,000 after buying an additional 168,284 shares during the last quarter. ClearBridge Investments Ltd lifted its holdings in Brookfield Renewable by 24.1% during the 2nd quarter. ClearBridge Investments Ltd now owns 3,021,660 shares of the company’s stock worth $107,601,000 after buying an additional 586,684 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Brookfield Renewable by 14.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,209,888 shares of the company’s stock worth $81,390,000 after buying an additional 281,567 shares during the last quarter. 69.21% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Trading Down 1.6 %

BEPC opened at $38.96 on Thursday. Brookfield Renewable has a 12 month low of $31.10 and a 12 month high of $44.41. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of -74.92 and a beta of 0.88. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.30 and a quick ratio of 0.30. The business has a fifty day moving average price of $39.45 and a 200 day moving average price of $38.51.

Brookfield Renewable (NYSE:BEPCGet Rating) last released its earnings results on Friday, August 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. Brookfield Renewable had a negative return on equity of 0.58% and a negative net margin of 1.72%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Sell-side analysts expect that Brookfield Renewable will post -0.3 earnings per share for the current fiscal year.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.28 annualized dividend and a yield of 3.29%. Brookfield Renewable’s payout ratio is -246.15%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BEPC. JPMorgan Chase & Co. raised their target price on Brookfield Renewable from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Wells Fargo & Company lifted their price objective on Brookfield Renewable from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 8th.

Brookfield Renewable Company Profile

(Get Rating)

Brookfield Renewable Corporation owns and operates a portfolio of renewable energy power generating facilities primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, and solar power plants with an installed capacity of approximately 12,723 megawatts. The company was incorporated in 2019 and is headquartered in New York, New York.

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