LPL Financial LLC Purchases 902 Shares of Brookfield Renewable Co. (NYSE:BEPC)

LPL Financial LLC boosted its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,404 shares of the company’s stock after acquiring an additional 902 shares during the period. LPL Financial LLC’s holdings in Brookfield Renewable were worth $924,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Curio Wealth LLC bought a new stake in shares of Brookfield Renewable during the 4th quarter worth approximately $26,000. Atala Financial Inc acquired a new position in Brookfield Renewable during the fourth quarter valued at approximately $27,000. Spirit of America Management Corp NY lifted 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 purchasing an additional 1,000 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Brookfield Renewable by 58.8% in the 4th quarter. Signaturefd LLC now owns 3,480 shares of the company’s stock valued at $96,000 after purchasing an additional 1,288 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Brookfield Renewable by 99.7% in the 4th quarter. IFP Advisors Inc now owns 4,711 shares of the company’s stock valued at $130,000 after purchasing an additional 2,352 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Brookfield Renewable Price Performance

Shares of NYSE BEPC opened at $27.14 on Monday. Brookfield Renewable Co. has a 1-year low of $22.26 and a 1-year high of $35.14. The firm has a market capitalization of $3.93 billion, a P/E ratio of -30.50 and a beta of 1.16. The firm’s 50-day moving average price is $27.69 and its 200-day moving average price is $28.75. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89.

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 net margin of 0.15% and a negative return on equity of 0.06%.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a $0.373 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.50%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.36. 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.