Brookfield Renewable (NYSE:BEPC) Shares Gap Up on Better-Than-Expected Earnings

Shares of Brookfield Renewable Co. (NYSE:BEPC) gapped up before the market opened on Friday following a better than expected earnings announcement. 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 changing hands.

The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Renewable’s dividend payout ratio (DPR) is -173.17%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Brookfield Renewable

Large investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC raised its stake in Brookfield Renewable by 468.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock valued at $25,000 after purchasing an additional 623 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Brookfield Renewable in the third quarter worth $31,000. Spirit of America Management Corp NY raised its holdings in shares of Brookfield Renewable by 87.0% during the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock valued at $59,000 after buying an additional 1,000 shares during the period. Signaturefd LLC increased its stake in Brookfield Renewable by 250.7% during the 3rd quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock worth $72,000 after buying an additional 1,567 shares during the period. Finally, US Bancorp DE increased its holdings in Brookfield Renewable by 99.4% during 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 last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Stock Up 2.7 %

The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -31.94 and a beta of 1.23. The stock has a 50 day moving average of $28.32 and a 200 day moving average of $29.37. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89.

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.