Harvest Portfolios Group Inc. Buys 38,853 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Harvest Portfolios Group Inc. grew its stake in shares of Brookfield Renewable Co. (NYSE:BEPC) by 15.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 298,098 shares of the company’s stock after acquiring an additional 38,853 shares during the period. Harvest Portfolios Group Inc.’s holdings in Brookfield Renewable were worth $9,733,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BEPC. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Brookfield Renewable by 0.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 275,239 shares of the company’s stock valued at $6,758,000 after buying an additional 1,047 shares during the period. Private Advisor Group LLC grew its holdings in shares of Brookfield Renewable by 51.7% during the first quarter. Private Advisor Group LLC now owns 15,270 shares of the company’s stock worth $375,000 after purchasing an additional 5,205 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Brookfield Renewable by 55.2% during the first quarter. Janney Montgomery Scott LLC now owns 18,300 shares of the company’s stock worth $450,000 after purchasing an additional 6,507 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Brookfield Renewable by 21.3% in the first quarter. GSA Capital Partners LLP now owns 33,606 shares of the company’s stock worth $826,000 after purchasing an additional 5,910 shares during the last quarter. Finally, Karpas Strategies LLC raised its stake in Brookfield Renewable by 1.5% in the first quarter. Karpas Strategies LLC now owns 59,850 shares of the company’s stock valued at $1,471,000 after purchasing an additional 904 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th.

Brookfield Renewable Trading Down 5.4 %

NYSE BEPC opened at $30.12 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.87. The stock’s 50-day simple moving average is $30.77 and its two-hundred day simple moving average is $29.60. Brookfield Renewable Co. has a twelve month low of $21.35 and a twelve month high of $35.14. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of -49.77 and a beta of 1.20.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.355 per share. The ex-dividend date was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.71%. Brookfield Renewable’s dividend payout ratio is -221.88%.

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.