Baird Financial Group Inc. Increases Stake in Brookfield Renewable Co. (NYSE:BEPC)

Baird Financial Group Inc. boosted its stake in shares of Brookfield Renewable Co. (NYSE:BEPC – Get Rating) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 811,020 shares of the company’s stock after acquiring an additional 37,924 shares during the quarter. Baird Financial Group Inc.’s holdings in Brookfield Renewable were worth $26,504,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BEPC. Raymond James & Associates grew its holdings in Brookfield Renewable by 30.7% in the first quarter. Raymond James & Associates now owns 90,746 shares of the company’s stock valued at $3,975,000 after purchasing an additional 21,313 shares during the period. Bank of New York Mellon Corp grew its holdings in Brookfield Renewable by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 417,541 shares of the company’s stock valued at $18,288,000 after purchasing an additional 5,254 shares during the period. American Century Companies Inc. acquired a new stake in Brookfield Renewable in the first quarter valued at approximately $261,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Brookfield Renewable by 154.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,601 shares of the company’s stock valued at $158,000 after purchasing an additional 2,187 shares during the period. Finally, Citigroup Inc. grew its holdings in Brookfield Renewable by 33.4% in the first quarter. Citigroup Inc. now owns 33,511 shares of the company’s stock valued at $1,464,000 after purchasing an additional 8,391 shares during the period. 68.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Stock Up 4.6 %

Shares of BEPC opened at $30.74 on Wednesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.74. Brookfield Renewable Co. has a 12 month low of $27.19 and a 12 month high of $44.41. The stock’s 50 day moving average is $29.76 and its two-hundred day moving average is $31.75. The firm has a market cap of $5.29 billion, a P/E ratio of -51.23 and a beta of 1.03.

Brookfield Renewable (NYSE:BEPC – Get Rating) last issued its quarterly earnings data on Friday, February 3rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Brookfield Renewable had a net margin of 0.57% and a return on equity of 0.19%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion.

Brookfield Renewable Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Tuesday, February 28th will be paid a $0.338 dividend. The ex-dividend date of this dividend is Monday, February 27th. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.32. This represents a $1.35 dividend on an annualized basis and a dividend yield of 4.40%. Brookfield Renewable’s payout ratio is currently -225.00%.

Brookfield Renewable Profile

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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.