Cubist Systematic Strategies LLC Takes $208,000 Position in Brookfield Renewable Co. (NYSE:BEPC)

Cubist Systematic Strategies LLC purchased a new stake in shares of Brookfield Renewable Co. (NYSE:BEPC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,524 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds have also modified their holdings of the stock. Barclays PLC boosted its stake in Brookfield Renewable by 3.5% in the third quarter. Barclays PLC now owns 173,871 shares of the company’s stock valued at $5,678,000 after acquiring an additional 5,857 shares during the last quarter. Avanza Fonder AB bought a new position in Brookfield Renewable in the fourth quarter valued at approximately $287,000. LongView Wealth Management bought a new position in Brookfield Renewable in the fourth quarter valued at approximately $215,000. Arkadios Wealth Advisors bought a new position in Brookfield Renewable in the fourth quarter valued at approximately $939,000. Finally, HB Wealth Management LLC boosted its stake in Brookfield Renewable by 6.8% in the fourth quarter. HB Wealth Management LLC now owns 13,509 shares of the company’s stock valued at $374,000 after acquiring an additional 864 shares during the last quarter. 75.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BEPC has been the topic of a number of recent research reports. 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 objective on the stock. Wells Fargo & Company reduced their price target on shares of Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd.

Brookfield Renewable Trading Up 0.8%

Shares of NYSE BEPC opened at $30.00 on Monday. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of -33.70 and a beta of 1.15. Brookfield Renewable Co. has a twelve month low of $23.73 and a twelve month high of $35.14. The company’s fifty day moving average is $27.89 and its 200-day moving average is $28.27. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89.

Brookfield Renewable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a $0.373 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.49 annualized dividend and a yield of 4.97%. Brookfield Renewable’s dividend payout ratio is currently -0.15%.

Brookfield Renewable 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.