Short Interest in Brookfield Renewable Co. (NYSE:BEPC) Drops By 8.1%

Brookfield Renewable Co. (NYSE:BEPC) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 6,000,000 shares, a decrease of 8.1% from the September 15th total of 6,530,000 shares. Based on an average daily volume of 819,000 shares, the days-to-cover ratio is currently 7.3 days.

Brookfield Renewable Price Performance

Shares of BEPC stock traded up $2.89 during mid-day trading on Wednesday, hitting $32.74. The company had a trading volume of 2,187,368 shares, compared to its average volume of 946,441. Brookfield Renewable has a 52-week low of $21.35 and a 52-week high of $33.17. The stock’s 50 day moving average price is $29.63 and its 200-day moving average price is $28.73. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $5.88 billion, a P/E ratio of -71.17 and a beta of 1.19.

Brookfield Renewable (NYSE:BEPC) last released its earnings results on Friday, August 2nd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Equities research analysts forecast that Brookfield Renewable will post -1.02 earnings per share for the current year.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -308.70%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th.

Hedge Funds Weigh In On Brookfield Renewable

Several hedge funds have recently modified their holdings of BEPC. Epoch Investment Partners Inc. raised its stake in Brookfield Renewable by 4,491.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,940,525 shares of the company’s stock valued at $55,072,000 after purchasing an additional 1,898,258 shares in the last quarter. TD Asset Management Inc raised its stake in Brookfield Renewable by 301.6% during the second quarter. TD Asset Management Inc now owns 969,055 shares of the company’s stock valued at $27,488,000 after purchasing an additional 727,780 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in Brookfield Renewable during the first quarter valued at $8,979,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Brookfield Renewable during the second quarter valued at $9,831,000. Finally, AMF Tjanstepension AB bought a new position in Brookfield Renewable during the first quarter valued at $6,883,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Company 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.