Brookfield Renewable Corporation $BEPC Shares Bought by Royal Bank of Canada

Royal Bank of Canada increased its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 7.1% in the 1st quarter, HoldingsChannel reports. The fund owned 1,341,387 shares of the company’s stock after acquiring an additional 89,430 shares during the period. Royal Bank of Canada’s holdings in Brookfield Renewable were worth $53,428,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eagle Global Advisors LLC bought a new position in Brookfield Renewable during the 4th quarter valued at $1,263,000. Oak Thistle LLC bought a new stake in shares of Brookfield Renewable in the 4th quarter worth $1,116,000. Vanguard Group Inc. lifted its holdings in shares of Brookfield Renewable by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 6,095,578 shares of the company’s stock valued at $233,817,000 after buying an additional 90,863 shares during the period. UBS Group AG boosted its stake in Brookfield Renewable by 225.2% during the fourth quarter. UBS Group AG now owns 1,802,162 shares of the company’s stock valued at $69,095,000 after buying an additional 1,247,953 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in Brookfield Renewable during the third quarter valued at about $7,833,000. Institutional investors own 75.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BEPC. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $38.00 price target on shares of Brookfield Renewable in a research report on Tuesday, July 21st. Barclays boosted their target price on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Weiss Ratings lowered shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Brookfield Renewable from a “sell” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $39.67.

Brookfield Renewable Stock Up 0.2%

Brookfield Renewable stock opened at $33.41 on Monday. Brookfield Renewable Corporation has a fifty-two week low of $31.82 and a fifty-two week high of $45.18. The firm’s 50 day simple moving average is $36.35 and its 200-day simple moving average is $38.97. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, August 31st.

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.