Rhumbline Advisers Reduces Stake in Brookfield Renewable Co. (NYSE:BEPC)

Rhumbline Advisers announced a reduction in its holdings of shares for Brookfield Renewable Co. (NYSE:BEPC) by 1.7% during the fourth quarter, according to reports from Holdings Channel.com. Following the sale of 2,004 shares, the firm now maintains ownership of 116,802 shares of the company's stock. As per the most recent filing with the SEC, Rhumbline Advisers' investment in Brookfield Renewable is valued at $3,231,000.

In addition to Rhumbline Advisers, several institutional investors have also modified their stakes in Brookfield Renewable recently. For instance, Dearborn Partners LLC increased its holdings by 3.2% in the third quarter, bringing its total to 16,100 shares, which are now valued at $526,000 after acquiring an additional 500 shares. Similarly, Toronto Dominion Bank raised its holdings by 0.6% in the same quarter, now owning 95,118 shares valued at $3,107,000, following an acquisition of 525 shares.

Vontobel Holding Ltd. also increased its position in Brookfield Renewable by 2.1% during the fourth quarter, holding onto 26,020 shares valued at $719,000 after purchasing an additional 542 shares. SeaCrest Wealth Management LLC raised its stake by 7.0% in the same period, now owning 10,013 shares worth $277,000 after buying 653 more shares. Lastly, HB Wealth Management LLC increased its holdings by 6.8%, owning a total of 13,509 shares valued at $374,000 after acquiring an additional 864 shares. Overall, hedge funds and other institutional investors own a significant 75.12% of Brookfield Renewable’s stock.

Changes in Analyst Ratings

Recent reports by equities research analysts showed a variety of adjustments to ratings on Brookfield Renewable stock. Notably, Wells Fargo & Company decreased its price target from $35.00 to $33.00, maintaining an “overweight” rating. In another analysis, JPMorgan Chase & Co. lowered its price objective from $34.00 to $32.00 while also sustaining an “overweight” rating for the stock.

Performance of Brookfield Renewable Stock

On the trading day on March 2nd, shares of Brookfield Renewable opened at $27.87. The company displays a debt-to-equity ratio of 0.89, with a current ratio of 0.27 and a quick ratio of 0.51. Over the past year, Brookfield Renewable shares reached a low of $21.35 and a high of $35.14, giving the company a market capitalization of $4.04 billion and a P/E ratio of -31.31, accompanied by a beta of 1.22. Currently, the 50-day simple moving average stands at $27.18, whereas the 200-day average is $29.28.

Brookfield Renewable previously announced its earnings results on January 31st, reporting earnings of ($0.06) per share for the quarter, surpassing analysts' expectations of ($0.33) by $0.27. The company encountered a negative net margin of 0.15% and a negative return on equity of 0.06%.

Dividend Increase for Brookfield Renewable

In recent developments, Brookfield Renewable declared a quarterly dividend that is set to be paid on March 31st. Shareholders recorded as of February 28th will receive a dividend of $0.373 per share, up from the previous dividend of $0.36. This new dividend marks an annual distribution of $1.49 and a yield of 5.35%, although the company’s dividend payout ratio currently stands at -167.42%.

About Brookfield Renewable

Brookfield Renewable Corporation specializes in owning and operating a diverse portfolio of renewable power and sustainable solution assets mainly across the United States, Europe, Colombia, and Brazil. Their operations include hydroelectric, wind, solar, and various other sustainable energy solutions with an installed capacity totaling approximately 19,161 megawatts.

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