Clearbridge Investments LLC Has $353.18 Million Position in Brookfield Renewable Corporation $BEPC

Clearbridge Investments LLC boosted its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 103.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,211,875 shares of the company’s stock after purchasing an additional 4,681,203 shares during the quarter. Clearbridge Investments LLC owned 0.06% of Brookfield Renewable worth $353,183,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BEPC. Quantbot Technologies LP boosted its holdings in shares of Brookfield Renewable by 728.3% in the third quarter. Quantbot Technologies LP now owns 130,474 shares of the company’s stock valued at $4,491,000 after buying an additional 114,722 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Brookfield Renewable in the third quarter valued at approximately $1,342,000. Vanguard Group Inc. boosted its holdings in shares of Brookfield Renewable by 2.6% in the third quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock valued at $206,717,000 after buying an additional 151,186 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Brookfield Renewable by 81.0% in the third quarter. JPMorgan Chase & Co. now owns 228,888 shares of the company’s stock valued at $7,878,000 after buying an additional 102,406 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Brookfield Renewable by 9.6% in the third quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company’s stock valued at $18,348,000 after buying an additional 46,796 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

NYSE BEPC opened at $38.76 on Friday. The firm has a 50-day moving average of $39.36 and a 200-day moving average of $40.07. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33. Brookfield Renewable Corporation has a 52-week low of $29.37 and a 52-week high of $45.18.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, May 29th.

Analyst Ratings Changes

Several research analysts recently commented on BEPC shares. Morgan Stanley restated an “underweight” rating and set a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a report on Monday, March 23rd. Weiss Ratings cut shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $42.33.

Brookfield Renewable 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.