Brookfield Renewable (NYSE:BEPC) Shares Gap Up Following Strong Earnings

Brookfield Renewable Co. (NYSE:BEPC)’s share price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $25.51, but opened at $26.44. Brookfield Renewable shares last traded at $26.00, with a volume of 129,416 shares trading hands.

The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given 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 dividend yield of 5.42%. Brookfield Renewable’s dividend payout ratio (DPR) is presently -173.17%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd.

Institutional Trading of Brookfield Renewable

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in shares of Brookfield Renewable by 26.2% in the second quarter. Sei Investments Co. now owns 23,662 shares of the company’s stock valued at $672,000 after purchasing an additional 4,916 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Brookfield Renewable by 38.8% in the second quarter. Public Sector Pension Investment Board now owns 17,672 shares of the company’s stock worth $501,000 after acquiring an additional 4,940 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Brookfield Renewable by 577.1% in the second quarter. Squarepoint Ops LLC now owns 104,266 shares of the company’s stock valued at $2,959,000 after acquiring an additional 88,867 shares in the last quarter. Millennium Management LLC boosted its holdings in Brookfield Renewable by 219.6% in the second quarter. Millennium Management LLC now owns 233,187 shares of the company’s stock valued at $6,614,000 after purchasing an additional 160,216 shares during the period. Finally, Truist Financial Corp acquired a new position in Brookfield Renewable during the 2nd quarter worth $384,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Trading Up 2.7 %

The company has a fifty day simple moving average of $28.32 and a two-hundred day simple moving average of $29.37. 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 company has a market cap of $3.80 billion, a PE ratio of -31.94 and a beta of 1.23.

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.