Brookfield Renewable Co. (NYSE:BEPC) Declares $0.32 Quarterly Dividend

Brookfield Renewable Co. (NYSE:BEPCGet Rating) announced a quarterly dividend on Friday, August 5th, Zacks reports. Shareholders of record on Wednesday, August 31st will be paid a dividend of 0.32 per share on Thursday, September 29th. This represents a $1.28 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, August 30th.

Brookfield Renewable has a payout ratio of -556.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Brookfield Renewable to earn ($0.23) per share next year, which means the company may not be able to cover its $1.28 annual dividend with an expected future payout ratio of -556.5%.

Brookfield Renewable Stock Up 0.3 %

NYSE:BEPC opened at $40.31 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 0.24. The company has a market cap of $6.94 billion, a PE ratio of -65.02 and a beta of 0.89. Brookfield Renewable has a 52-week low of $31.10 and a 52-week high of $45.43. The stock has a 50-day simple moving average of $36.62 and a 200 day simple moving average of $37.24.

Brookfield Renewable (NYSE:BEPCGet Rating) last posted its quarterly earnings data on Friday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.11). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Brookfield Renewable had a negative return on equity of 2.08% and a negative net margin of 6.22%. On average, sell-side analysts expect that Brookfield Renewable will post -0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BEPC. Federated Hermes Inc. bought a new position in Brookfield Renewable in the first quarter valued at approximately $35,000. 1832 Asset Management L.P. grew its stake in Brookfield Renewable by 20.6% in the first quarter. 1832 Asset Management L.P. now owns 2,390 shares of the company’s stock valued at $103,000 after purchasing an additional 409 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Brookfield Renewable by 154.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,601 shares of the company’s stock valued at $158,000 after buying an additional 2,187 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Brookfield Renewable in the first quarter valued at approximately $175,000. Finally, Vident Investment Advisory LLC acquired a new stake in shares of Brookfield Renewable in the first quarter valued at approximately $250,000. 67.96% of the stock is currently owned by institutional investors.

About Brookfield Renewable

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Brookfield Renewable Corporation owns and operates a portfolio of renewable energy power generating facilities primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, and solar power plants with an installed capacity of approximately 12,723 megawatts. The company was incorporated in 2019 and is headquartered in New York, New York.

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Dividend History for Brookfield Renewable (NYSE:BEPC)

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