Within Brookfield Renewable Energy Company (NYSE: BEPC), the number of short positions declined significantly in October. As of October 31, 2,610,000 shares were outstanding, a decrease of 27.1% from the 3,580,000 shares outstanding as of October 15. This brings the current short interest rate ratio to 3.9 days, which can be determined based on an average daily volume of 661,000 shares. This ratio was determined by calculation. Short sales account for 1.5% of the stock’s total outstanding shares.
The company also announced that it would pay a quarterly dividend on December 30th. The dividend payment has just been announced. On Wednesday, November 30th, record shareholders are entitled to a dividend payment of $0.32 per share. This payment will be made available to them. Additionally, November 29, which is a Tuesday, is the date that the “ex-dividend” status for that dividend begins. This translates into a dividend payment of $1.28 per year and a 4.00% return on investment. The payout ratio for Brookfield Renewable Energy is negative at -228.57%.
On Friday, trading on the NYSE BEPC started at $32.03 and lasted all day. Brookfield Renewable Energy’s stock price has fluctuated between its yearly low of $28.40 and its yearly high of $44.41; This range represents the trading range for the past year. A quick ratio of 0.30, a current ratio of 0.33 and an outstanding debt to equity ratio of 0.89 are some of the current ratios. The company’s 200-day moving average is $36.06, while its 50-day moving average is $33.75.
Purchases and sales of the company’s stock by institutional investors and hedge funds have been among recent transactions involving the stock. Northwestern Mutual Wealth Management Co. increased its stake in Brookfield Renewable by 604.4 percent in the first three months of 2018. Northwestern Mutual Wealth Management Co. now owns 641 shares of the company, valued at $27,000. That’s because the company purchased an additional 550 shares in the most recent fiscal quarter, bringing the total number of shares it owns to 641. In the second fiscal quarter, Desjardins Global Asset Management Inc. invested $27,000 in Brookfield Renewable in the United States. Achmea Investment Management BV invested more than $28,000 in Brookfield Renewable in the third quarter to acquire a new stake in the company. During the third quarter, Whittier Trust Co. of Nevada Inc. paid approximately $33,000 to acquire a new investment in Brookfield Renewable.
Finally, Annapolis Financial Services LLC increased its stake in Brookfield Renewable by purchasing additional shares for nearly $34,000 during the second quarter. This was done to complement the company’s existing portfolio. Currently, hedge funds and other institutional investors own 69.21% of the company’s shares.
A considerable amount of research has been compiled into reports related to the BEPC. For example, in a research note published Monday, August 8, JPMorgan Chase & Co. increased its price target on Brookfield Renewable to $49.00 from $48.00. The note was published online. The company also gave the stock an “overweight” rating. On the other hand, Wells Fargo & Company downgraded Brookfield Renewable from an “overweight” rating to a “neutral” rating. In addition, the target price for the stock was lowered from $41.00 to $37.00 in a research note published on November 7th.
Brookfield Renewable Corporation owns and operates power plants powered by renewable energy sources in several countries worldwide including the United States, Europe, Colombia and Brazil. It is responsible for managing power plants totaling approximately 12,723 megawatts, including those powered by hydro, wind and solar power. 2019 marks the inception of the company, now operating out of New York City, in upstate New York.