Russell Investments Group Ltd. Sells 167,238 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Russell Investments Group Ltd. lowered its stake in Brookfield Renewable Co. (NYSE:BEPC) by 47.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 182,246 shares of the company’s stock after selling 167,238 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.13% of Brookfield Renewable worth $5,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Curio Wealth LLC bought a new position in shares of Brookfield Renewable in the fourth quarter valued at approximately $26,000. Atala Financial Inc purchased a new position in shares of Brookfield Renewable during the 4th quarter valued at $27,000. Spirit of America Management Corp NY increased its holdings in shares of Brookfield Renewable by 87.0% in the fourth quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock worth $59,000 after purchasing an additional 1,000 shares during the period. Signaturefd LLC raised its position in shares of Brookfield Renewable by 58.8% in the fourth quarter. Signaturefd LLC now owns 3,480 shares of the company’s stock worth $96,000 after buying an additional 1,288 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in Brookfield Renewable by 99.7% during the fourth quarter. IFP Advisors Inc now owns 4,711 shares of the company’s stock valued at $130,000 after buying an additional 2,352 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

BEPC opened at $26.92 on Tuesday. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $3.90 billion, a P/E ratio of -30.25 and a beta of 1.16. The stock has a 50-day moving average price of $27.71 and a 200-day moving average price of $28.91. Brookfield Renewable Co. has a 12-month low of $21.35 and a 12-month high of $35.14.

Brookfield Renewable (NYSE:BEPC) last issued its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a negative return on equity of 0.06% and a negative net margin of 0.15%.

Brookfield Renewable Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company lowered their target price on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Barclays began coverage on shares of Brookfield Renewable in a research note on Wednesday, April 2nd. They issued an “equal weight” rating and a $31.00 price target for the company.

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.