Brookfield Renewable Co. (NYSE:BEPC) Sees Large Growth in Short Interest

Brookfield Renewable Co. (NYSE:BEPCGet Free Report) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 7,970,000 shares, an increase of 25.1% from the April 30th total of 6,370,000 shares. Currently, 4.4% of the shares of the company are sold short. Based on an average trading volume of 1,100,000 shares, the short-interest ratio is currently 7.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BEPC. Parnassus Investments LLC boosted its holdings in Brookfield Renewable by 182.9% in the 4th quarter. Parnassus Investments LLC now owns 6,491,404 shares of the company’s stock worth $186,888,000 after buying an additional 4,196,415 shares during the period. Norges Bank bought a new position in shares of Brookfield Renewable in the fourth quarter worth $46,787,000. Epoch Investment Partners Inc. grew its position in shares of Brookfield Renewable by 50.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,083,864 shares of the company’s stock valued at $59,994,000 after purchasing an additional 699,739 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Brookfield Renewable by 481.8% during the 4th quarter. TD Asset Management Inc now owns 842,807 shares of the company’s stock valued at $24,285,000 after purchasing an additional 697,956 shares during the period. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in Brookfield Renewable during the 1st quarter worth about $8,979,000. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

BEPC traded up $0.54 during trading on Friday, hitting $31.54. 964,341 shares of the company traded hands, compared to its average volume of 1,009,545. The firm has a market cap of $5.67 billion, a P/E ratio of -68.56 and a beta of 1.10. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.82. Brookfield Renewable has a one year low of $21.35 and a one year high of $35.59. The stock’s fifty day moving average is $26.81 and its 200 day moving average is $26.81.

Brookfield Renewable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Friday, May 31st. Brookfield Renewable’s dividend payout ratio is currently -308.69%.

Brookfield Renewable Company Profile

(Get Free Report)

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.

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