Brookfield Renewable Co. (NYSE:BEPC) Short Interest Down 9.9% in December

Brookfield Renewable Co. (NYSE:BEPC) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 4,980,000 shares, a drop of 9.9% from the November 30th total of 5,530,000 shares. Based on an average daily volume of 927,400 shares, the short-interest ratio is presently 5.4 days.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised shares of Brookfield Renewable from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $32.00 to $34.00 in a research note on Thursday, December 12th.

Brookfield Renewable Stock Down 1.5 %

BEPC stock traded down $0.41 during midday trading on Wednesday, hitting $27.66. The stock had a trading volume of 918,179 shares, compared to its average volume of 947,124. Brookfield Renewable has a 52-week low of $21.35 and a 52-week high of $35.14. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of -33.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51. The business has a 50-day moving average of $30.43 and a two-hundred day moving average of $29.83.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm earned ($0.14) EPS. As a group, equities research analysts forecast that Brookfield Renewable will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Renewable’s dividend payout ratio (DPR) is -173.17%.

Institutional Investors Weigh In On Brookfield Renewable

A number of institutional investors have recently modified their holdings of the stock. Harvest Portfolios Group Inc. boosted its position in shares of Brookfield Renewable by 15.0% during the third quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company’s stock valued at $9,733,000 after buying an additional 38,853 shares during the last quarter. Bank of Montreal Can increased its stake in Brookfield Renewable by 1.4% in the 3rd quarter. Bank of Montreal Can now owns 1,139,177 shares of the company’s stock worth $37,444,000 after buying an additional 16,033 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Brookfield Renewable by 17.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 181,310 shares of the company’s stock worth $5,922,000 after purchasing an additional 27,550 shares during the period. Pacifica Partners Inc. lifted its stake in Brookfield Renewable by 105.1% in the 3rd quarter. Pacifica Partners Inc. now owns 58,698 shares of the company’s stock worth $1,920,000 after purchasing an additional 30,080 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Brookfield Renewable by 135.3% during the 3rd quarter. Intech Investment Management LLC now owns 103,699 shares of the company’s stock worth $3,390,000 after acquiring an additional 59,630 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

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.