Brookfield Renewable Co. (BEPC:NYE) experienced a significant increase in short interest in February, according to recent reports. The total number of shares sold short reached 5,760,000, representing a 14.5% increase from the previous total of 5,030,000 shares as of February 13th. With an average daily trading volume of 715,600 BEPC stock shares, the current days-to-cover ratio is 8.0 days, and 3.4% of the company’s shares are currently sold short.
Hedge Funds & Institutional Holdings:
Several hedge funds have also recently made changes to their holdings in the company. Vanguard Group Inc. increased its holdings in Brookfield Renewable by 2.7% during the 3rd quarter, now owning 4,433,864 shares of the company’s stock worth $144,899,000.
Similarly, Principal Financial Group Inc. boosted its holdings by 67.7% during the 2nd quarter, now owning 4,070,277 shares of BEPC stock valued at $144,942,000.
BlackRock Inc. also increased its holdings by 4.6% during the 1st quarter, now owning 3,830,035 shares of the company’s stock valued at $167,754,000.
ClearBridge Investments Ltd. also boosted its holdings by 24.1% during the 2nd quarter, now owning 3,021,660 shares of the company’s stock valued at $107,601,000.
Finally, CIBC Private Wealth Group LLC boosted its holdings by 26.1% during the 3rd quarter, now owning 2,571,727 shares of the company’s stock valued at $84,044,000.
Hedge funds and institutional investors currently own 68.12% of BEPC stock.
BEPC Stock Price Analysis:
Brookfield Renewable stock opened on Tuesday at $29.38, with a market cap of $5.06 billion, a PE ratio of -48.97, and a beta of 1.03. The company has a current ratio of 0.47, a quick ratio of 0.47, and a debt-to-equity ratio of 0.74.
BEPC stock has a 50-day simple moving average of $29.76 and a 200-day simple moving average of $31.75.
BEPC Stock-Quarterly Earnings Review:
Brookfield Renewable last reported its quarterly earnings results on Friday, February 3rd. The company reported earnings per share of ($0.16) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01).
The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Brookfield Renewable had a return on equity of 0.19% and a net margin of 0.57%.
BEPC Stock Dividend:
The company has also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Tuesday, February 28th, will be issued a dividend of $0.338 per share, up from the previous quarterly dividend of $0.32.
The ex-dividend date was Monday, February 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 4.60%. Brookfield Renewable’s dividend payout ratio is currently -225.00%.
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, and solar power plants with an installed capacity of approximately 12,857 megawatts. The company was incorporated in 2019 and is headquartered in New York, New York.
