Brookfield Renewable Co. (NYSE:BEPC) Declares Quarterly Dividend of $0.32

Brookfield Renewable Co. (NYSE:BEPC – Get Rating) announced a quarterly dividend on Friday, May 6th, Zacks reports. Stockholders of record on Tuesday, May 31st will be paid a dividend of 0.32 per share on Thursday, June 30th. This represents a $1.28 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Monday, May 30th.

Brookfield Renewable has a dividend payout ratio of -556.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brookfield Renewable to earn ($0.23) per share next year, which means the company may not be able to cover its $1.28 annual dividend with an expected future payout ratio of -556.5%.

Shares of BEPC opened at $37.47 on Friday. The business’s 50-day moving average price is $38.56 and its 200-day moving average price is $37.07. Brookfield Renewable has a twelve month low of $31.10 and a twelve month high of $45.43. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86.

Brookfield Renewable (NYSE:BEPC – Get Rating) last announced its quarterly earnings results on Monday, February 28th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.06 billion. Brookfield Renewable had a negative net margin of 6.22% and a negative return on equity of 2.08%. As a group, equities research analysts forecast that Brookfield Renewable will post -0.43 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEPC. Federated Hermes Inc. purchased a new position in Brookfield Renewable in the first quarter worth about $35,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in Brookfield Renewable by 453.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,499 shares of the company’s stock worth $55,000 after purchasing an additional 1,228 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Brookfield Renewable by 20.6% in the first quarter. 1832 Asset Management L.P. now owns 2,390 shares of the company’s stock worth $103,000 after purchasing an additional 409 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Brookfield Renewable by 154.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,601 shares of the company’s stock worth $158,000 after purchasing an additional 2,187 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in Brookfield Renewable in the first quarter worth about $175,000. Institutional investors own 67.96% of the company’s stock.

BEPC has been the subject of several research reports. Zacks Investment Research raised Brookfield Renewable from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, April 21st. Wells Fargo & Company cut their target price on Brookfield Renewable from $50.00 to $43.00 in a research note on Thursday, February 10th.

About Brookfield Renewable (Get Rating)

Brookfield Renewable Corporation owns and operates a portfolio of renewable energy power generating facilities primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, and solar power plants with an installed capacity of approximately 12,723 megawatts. The company was incorporated in 2019 and is headquartered in New York, New York.

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