NewGen Asset Management Ltd Reduces Stake in Brookfield Renewable Co. (NYSE:BEPC)

NewGen Asset Management Ltd cut its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC) by 46.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 206,400 shares of the company’s stock after selling 179,000 shares during the quarter. Brookfield Renewable comprises 3.0% of NewGen Asset Management Ltd’s portfolio, making the stock its 13th largest holding. NewGen Asset Management Ltd’s holdings in Brookfield Renewable were worth $5,942,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in Brookfield Renewable during the 3rd quarter valued at $227,000. Allspring Global Investments Holdings LLC increased its position in shares of Brookfield Renewable by 159.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 56,546 shares of the company’s stock valued at $1,628,000 after buying an additional 34,780 shares during the period. Vanguard Group Inc. raised its stake in Brookfield Renewable by 5.2% in the third quarter. Vanguard Group Inc. now owns 5,087,794 shares of the company’s stock worth $121,802,000 after buying an additional 250,617 shares in the last quarter. Investment Partners Asset Management Inc. purchased a new stake in Brookfield Renewable in the fourth quarter worth about $1,279,000. Finally, Envestnet Asset Management Inc. boosted its position in Brookfield Renewable by 31.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 430,730 shares of the company’s stock valued at $10,312,000 after acquiring an additional 102,861 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC traded up $1.34 during trading on Friday, hitting $28.37. The stock had a trading volume of 2,324,668 shares, compared to its average volume of 1,154,412. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.83. The firm’s fifty day moving average is $23.99 and its 200 day moving average is $25.76. Brookfield Renewable Co. has a 12 month low of $21.35 and a 12 month high of $36.16.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, February 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.15. Brookfield Renewable had a return on equity of 3.67% and a net margin of 12.23%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, sell-side analysts predict that Brookfield Renewable Co. will post -1.11 EPS for the current year.

About Brookfield Renewable

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.