Pinnacle Wealth Management Group Inc. Cuts Stake in Brookfield Renewable Co. (NYSE:BEPC)

Pinnacle Wealth Management Group Inc. lessened its stake in Brookfield Renewable Co. (NYSE:BEPC) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,900 shares of the company’s stock after selling 800 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in Brookfield Renewable were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BEPC. Hexagon Capital Partners LLC raised its position in Brookfield Renewable by 468.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after buying an additional 623 shares during the last quarter. Truvestments Capital LLC bought a new position in Brookfield Renewable during the third quarter valued at approximately $31,000. Signaturefd LLC boosted its holdings in Brookfield Renewable by 250.7% in the third quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock worth $72,000 after purchasing an additional 1,567 shares during the last quarter. US Bancorp DE grew its position in Brookfield Renewable by 99.4% in the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company’s stock worth $99,000 after purchasing an additional 1,516 shares during the period. Finally, Quarry LP purchased a new stake in Brookfield Renewable during the 3rd quarter valued at $133,000. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Down 1.8 %

Shares of BEPC stock opened at $26.48 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The stock has a market cap of $3.84 billion, a P/E ratio of -32.29 and a beta of 1.23. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $35.14. The company has a 50 day simple moving average of $29.70 and a two-hundred day simple moving average of $29.73.

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

Brookfield Renewable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a $0.355 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 5.36%. Brookfield Renewable’s payout ratio is presently -173.17%.

Analyst Upgrades and Downgrades

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

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.