Pictet Asset Management Holding SA Has $1.35 Million Position in Brookfield Renewable Co. (NYSE:BEPC)

Pictet Asset Management Holding SA trimmed its position in Brookfield Renewable Co. (NYSE:BEPC) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 48,785 shares of the company’s stock after selling 3,504 shares during the period. Pictet Asset Management Holding SA’s holdings in Brookfield Renewable were worth $1,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Green Alpha Advisors LLC increased its stake in Brookfield Renewable by 55.8% in the fourth quarter. Green Alpha Advisors LLC now owns 138,976 shares of the company’s stock valued at $3,844,000 after purchasing an additional 49,748 shares in the last quarter. A. D. Beadell Investment Counsel Inc. increased its position in shares of Brookfield Renewable by 252.7% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 44,265 shares of the company’s stock valued at $1,224,000 after buying an additional 31,715 shares in the last quarter. Avanza Fonder AB acquired a new stake in Brookfield Renewable during the 4th quarter worth $287,000. Geode Capital Management LLC lifted its holdings in Brookfield Renewable by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,249,866 shares of the company’s stock worth $40,633,000 after acquiring an additional 25,558 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in Brookfield Renewable in the fourth quarter valued at about $939,000. Institutional investors own 75.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BEPC shares. JPMorgan Chase & Co. cut their price objective on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Barclays started coverage on shares of Brookfield Renewable in a research note on Wednesday. They issued an “equal weight” rating and a $31.00 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd.

Brookfield Renewable Stock Down 9.4 %

NYSE:BEPC opened at $25.62 on Friday. The stock has a 50-day simple moving average of $27.69 and a 200 day simple moving average of $29.21. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $35.14. The company has a market cap of $3.71 billion, a PE ratio of -28.79 and a beta of 1.16. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a $0.373 dividend. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Renewable’s payout ratio is presently -167.42%.

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.