Advisors Capital Management LLC Raises Stake in Brookfield Renewable Corporation $BEPC

Advisors Capital Management LLC increased its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 4.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,788,239 shares of the company’s stock after acquiring an additional 70,921 shares during the quarter. Advisors Capital Management LLC’s holdings in Brookfield Renewable were worth $61,551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Curio Wealth LLC increased its position in shares of Brookfield Renewable by 95,300.0% during the second quarter. Curio Wealth LLC now owns 954 shares of the company’s stock worth $31,000 after acquiring an additional 953 shares during the period. Smartleaf Asset Management LLC grew its stake in Brookfield Renewable by 191.5% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $35,000 after purchasing an additional 655 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Brookfield Renewable by 88.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock worth $38,000 after purchasing an additional 543 shares during the period. Employees Retirement System of Texas bought a new stake in Brookfield Renewable during the 2nd quarter valued at $42,000. Finally, Farther Finance Advisors LLC raised its position in Brookfield Renewable by 180.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company’s stock valued at $58,000 after purchasing an additional 1,091 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

Shares of BEPC stock opened at $44.40 on Wednesday. The stock’s 50-day moving average is $39.89 and its 200 day moving average is $38.41. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $45.18. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.39. The company has a market cap of $6.43 billion, a P/E ratio of -49.89 and a beta of 1.22.

Brookfield Renewable Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a $0.392 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BEPC. Morgan Stanley increased their price target on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Barclays increased their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.00.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation (NYSE: BEPC) is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company’s operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.