PNC Financial Services Group Inc. Sells 4,260 Shares of Brookfield Renewable Co. (NYSE:BEPC)

PNC Financial Services Group Inc. cut its position in Brookfield Renewable Co. (NYSE:BEPC) by 19.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,187 shares of the company’s stock after selling 4,260 shares during the period. PNC Financial Services Group Inc.’s holdings in Brookfield Renewable were worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in shares of Brookfield Renewable in the third quarter valued at $31,000. Spirit of America Management Corp NY grew its position in shares of Brookfield Renewable by 87.0% in the fourth quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock valued at $59,000 after purchasing an additional 1,000 shares in the last quarter. IFP Advisors Inc grew its position in shares of Brookfield Renewable by 99.7% in the fourth quarter. IFP Advisors Inc now owns 4,711 shares of the company’s stock valued at $130,000 after purchasing an additional 2,352 shares in the last quarter. Quarry LP purchased a new position in shares of Brookfield Renewable in the third quarter valued at $133,000. Finally, US Bancorp DE grew its position in shares of Brookfield Renewable by 84.3% in the fourth quarter. US Bancorp DE now owns 5,606 shares of the company’s stock valued at $155,000 after purchasing an additional 2,565 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Price Performance

Brookfield Renewable stock opened at $29.00 on Thursday. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $35.14. The business has a 50-day simple moving average of $27.09 and a 200 day simple moving average of $29.25. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of -32.58 and a beta of 1.20.

Brookfield Renewable (NYSE:BEPC) last posted its earnings results on Friday, January 31st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a negative return on equity of 0.06% and a negative net margin of 0.15%.

Brookfield Renewable Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 5.15%. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable’s payout ratio is presently -167.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BEPC shares. JPMorgan Chase & Co. reduced their price target on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their price target on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd.

Brookfield Renewable 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.