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

Brookfield Renewable Co. (NYSE:BEPCGet Rating) announced a quarterly dividend on Friday, August 5th, Zacks reports. Shareholders of record on Wednesday, August 31st will be given a dividend of 0.32 per share on Thursday, September 29th. This represents a $1.28 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Tuesday, August 30th.

Brookfield Renewable has a 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%.

Brookfield Renewable Trading Up 0.3 %

NYSE BEPC opened at $40.31 on Friday. The stock’s 50-day simple moving average is $36.62 and its two-hundred day simple moving average is $37.24. Brookfield Renewable has a twelve month low of $31.10 and a twelve month high of $45.43. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of -65.02 and a beta of 0.89.

Brookfield Renewable (NYSE:BEPCGet Rating) last released its quarterly earnings results on Friday, May 6th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.11). Brookfield Renewable had a negative net margin of 6.22% and a negative return on equity of 2.08%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Research analysts forecast that Brookfield Renewable will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable

A number of large investors have recently added to or reduced their stakes in BEPC. Federated Hermes Inc. bought a new position in shares of Brookfield Renewable during the first quarter valued at about $35,000. 1832 Asset Management L.P. grew its stake in shares of Brookfield Renewable by 20.6% during the first quarter. 1832 Asset Management L.P. now owns 2,390 shares of the company’s stock valued at $103,000 after buying an additional 409 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Brookfield Renewable by 154.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,601 shares of the company’s stock valued at $158,000 after buying an additional 2,187 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Brookfield Renewable during the first quarter valued at about $175,000. Finally, Vident Investment Advisory LLC bought a new position in shares of Brookfield Renewable during the first quarter valued at about $250,000. Hedge funds and other institutional investors own 67.96% of the company’s stock.

About Brookfield Renewable

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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.

See Also

Dividend History for Brookfield Renewable (NYSE:BEPC)

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