CIBC Asset Management Inc Sells 515,421 Shares of Brookfield Renewable Co. (NYSE:BEPC)

CIBC Asset Management Inc reduced its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 21.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,939,051 shares of the company’s stock after selling 515,421 shares during the quarter. CIBC Asset Management Inc owned 1.08% of Brookfield Renewable worth $54,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BEPC. CWM LLC raised its position in shares of Brookfield Renewable by 9.5% during the 2nd quarter. CWM LLC now owns 4,069 shares of the company’s stock valued at $115,000 after buying an additional 353 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Brookfield Renewable by 1.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,126 shares of the company’s stock valued at $827,000 after purchasing an additional 446 shares in the last quarter. Moseley Investment Management Inc. lifted its stake in Brookfield Renewable by 4.9% during the first quarter. Moseley Investment Management Inc. now owns 10,781 shares of the company’s stock worth $265,000 after purchasing an additional 504 shares during the last quarter. Smith Salley Wealth Management boosted its holdings in shares of Brookfield Renewable by 2.2% in the 2nd quarter. Smith Salley Wealth Management now owns 26,470 shares of the company’s stock worth $751,000 after purchasing an additional 563 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Brookfield Renewable by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 59,089 shares of the company’s stock worth $1,701,000 after purchasing an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Trading Down 0.5 %

Shares of Brookfield Renewable stock traded down $0.14 during trading on Monday, reaching $28.49. The company’s stock had a trading volume of 684,100 shares, compared to its average volume of 965,417. The company has a market cap of $5.12 billion, a price-to-earnings ratio of -61.93 and a beta of 1.18. The firm’s 50-day moving average is $28.61 and its two-hundred day moving average is $27.38. Brookfield Renewable Co. has a 52-week low of $21.35 and a 52-week high of $32.83. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.87.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. On average, sell-side analysts anticipate that Brookfield Renewable Co. will post -1.02 earnings per share for the current year.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.42 annualized dividend and a yield of 4.98%. Brookfield Renewable’s payout ratio is -308.69%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their target price on Brookfield Renewable from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th.

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.