Brookfield Renewable Corporation $BEPC Shares Sold by Guardian Capital LP

Guardian Capital LP decreased its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 613,814 shares of the company’s stock after selling 17,108 shares during the period. Guardian Capital LP owned approximately 0.42% of Brookfield Renewable worth $21,135,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BEPC. Vanguard Group Inc. lifted its position in Brookfield Renewable by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock worth $206,717,000 after acquiring an additional 151,186 shares in the last quarter. Parnassus Investments LLC grew its position in Brookfield Renewable by 1.4% in the third quarter. Parnassus Investments LLC now owns 5,337,630 shares of the company’s stock valued at $183,721,000 after acquiring an additional 74,543 shares in the last quarter. Principal Financial Group Inc. grew its position in Brookfield Renewable by 2.7% in the third quarter. Principal Financial Group Inc. now owns 4,646,524 shares of the company’s stock valued at $159,935,000 after acquiring an additional 121,328 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Brookfield Renewable by 10.8% during the second quarter. Legal & General Group Plc now owns 3,827,746 shares of the company’s stock valued at $125,179,000 after purchasing an additional 373,517 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Brookfield Renewable by 49.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock valued at $97,457,000 after purchasing an additional 985,442 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Morgan Stanley lifted their price target on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Brookfield Renewable from a “sell” rating to a “hold” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.00.

Brookfield Renewable Price Performance

BEPC stock opened at $40.19 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.39 and a debt-to-equity ratio of 1.35. The firm has a 50 day simple moving average of $40.87 and a 200-day simple moving average of $39.13. The company has a market capitalization of $5.82 billion, a P/E ratio of -45.16 and a beta of 1.24. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $45.18.

Brookfield Renewable Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s payout ratio is presently -176.40%.

About Brookfield Renewable

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.