Brookfield Renewable Co. (NYSE:BEPC) Sees Significant Decrease in Short Interest

Brookfield Renewable Co. (NYSE:BEPC - Get Free Report) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 4,230,000 shares, a drop of 16.4% from the April 30th total of 5,060,000 shares. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is currently 4.1 days. Approximately 2.9% of the company's shares are sold short.

Brookfield Renewable Stock Up 0.3%

Brookfield Renewable stock traded up $0.08 during trading hours on Thursday, hitting $29.57. The company had a trading volume of 765,717 shares, compared to its average volume of 951,110. Brookfield Renewable has a fifty-two week low of $23.73 and a fifty-two week high of $35.14. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.27 and a quick ratio of 0.51. The firm has a market capitalization of $4.28 billion, a P/E ratio of -33.22 and a beta of 1.15. The firm's fifty day moving average is $28.08 and its 200-day moving average is $28.20.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable's dividend payout ratio (DPR) is presently -167.42%.

Institutional Trading of Brookfield Renewable

Several hedge funds and other institutional investors have recently modified their holdings of BEPC. Modern Wealth Management LLC grew its stake in Brookfield Renewable by 6.8% in the first quarter. Modern Wealth Management LLC now owns 14,529 shares of the company's stock valued at $406,000 after purchasing an additional 919 shares in the last quarter. Rhumbline Advisers increased its holdings in Brookfield Renewable by 5.8% in the first quarter. Rhumbline Advisers now owns 123,616 shares of the company's stock worth $3,451,000 after buying an additional 6,814 shares during the last quarter. Strs Ohio acquired a new position in Brookfield Renewable in the first quarter worth approximately $2,100,000. Foresight Group Ltd Liability Partnership bought a new position in Brookfield Renewable during the first quarter valued at approximately $6,338,000. Finally, Advisors Capital Management LLC lifted its stake in Brookfield Renewable by 9.0% in the first quarter. Advisors Capital Management LLC now owns 1,655,180 shares of the company's stock valued at $46,212,000 after acquiring an additional 136,037 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on BEPC. Barclays assumed coverage on shares of Brookfield Renewable in a research note on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th.

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.