Sumitomo Mitsui Trust Holdings Inc. Grows Stake in Brookfield Renewable Co. (NYSE:BEPC)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,192 shares of the company’s stock after purchasing an additional 11,961 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.15% of Brookfield Renewable worth $7,918,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. HBC Financial Services PLLC purchased a new stake in shares of Brookfield Renewable during the fourth quarter worth about $43,000. Cerity Partners LLC grew its stake in Brookfield Renewable by 5.1% during the 4th quarter. Cerity Partners LLC now owns 63,607 shares of the company’s stock valued at $1,831,000 after acquiring an additional 3,076 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Brookfield Renewable by 159.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 56,546 shares of the company’s stock valued at $1,628,000 after acquiring an additional 34,780 shares in the last quarter. Investment Partners Asset Management Inc. purchased a new stake in Brookfield Renewable during the 4th quarter valued at about $1,279,000. Finally, Meeder Asset Management Inc. purchased a new stake in Brookfield Renewable during the 4th quarter valued at about $232,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Up 2.8 %

Shares of NYSE BEPC opened at $23.53 on Wednesday. Brookfield Renewable Co. has a 12-month low of $21.35 and a 12-month high of $36.16. The stock has a market cap of $4.23 billion, a PE ratio of -73.52 and a beta of 1.09. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average of $24.05 and a 200 day moving average of $25.71.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings data on Friday, February 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.15. Brookfield Renewable had a net margin of 12.23% and a return on equity of 3.67%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, sell-side analysts predict that Brookfield Renewable Co. will post -1.11 EPS for the current fiscal year.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 6.04%. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, February 28th. Brookfield Renewable’s payout ratio is presently -443.75%.

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.