Pictet Asset Management Holding SA Has $1.35 Million Holdings in Brookfield Renewable Co. (NYSE:BEPC)

Pictet Asset Management Holding SA decreased its stake in Brookfield Renewable Co. (NYSE:BEPC) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,785 shares of the company’s stock after selling 3,504 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Brookfield Renewable were worth $1,349,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Curio Wealth LLC acquired a new stake in shares of Brookfield Renewable in the 4th quarter valued at $26,000. Atala Financial Inc acquired a new position in Brookfield Renewable in the fourth quarter valued at about $27,000. Spirit of America Management Corp NY grew its stake in Brookfield Renewable by 87.0% during the fourth quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock worth $59,000 after buying an additional 1,000 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Brookfield Renewable by 58.8% during 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 raised its stake in shares of Brookfield Renewable by 99.7% in the fourth quarter. IFP Advisors Inc now owns 4,711 shares of the company’s stock valued at $130,000 after acquiring an additional 2,352 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on BEPC. Wells Fargo & Company decreased their price target on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays initiated coverage on Brookfield Renewable in a research note on Wednesday. They issued an “equal weight” rating and a $31.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd.

Brookfield Renewable Stock Down 9.4 %

Shares of BEPC opened at $25.62 on Friday. The business’s fifty day moving average price is $27.69 and its two-hundred day moving average price is $29.21. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -28.79 and a beta of 1.16. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $35.14. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a $0.373 dividend. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Renewable’s dividend payout ratio is currently -167.42%.

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.