Envestnet Asset Management Inc. Boosts Holdings in Brookfield Renewable Corporation $BEPC

Envestnet Asset Management Inc. lifted its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 21.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 486,270 shares of the company’s stock after buying an additional 87,498 shares during the period. Envestnet Asset Management Inc.’s holdings in Brookfield Renewable were worth $15,936,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BEPC. MAI Capital Management lifted its holdings in Brookfield Renewable by 59.0% in the first quarter. MAI Capital Management now owns 951 shares of the company’s stock worth $27,000 after buying an additional 353 shares during the period. CWM LLC raised its position in shares of Brookfield Renewable by 14.6% in the 1st quarter. CWM LLC now owns 4,058 shares of the company’s stock worth $113,000 after acquiring an additional 516 shares in the last quarter. Griffin Asset Management Inc. lifted its stake in shares of Brookfield Renewable by 3.5% in the 2nd quarter. Griffin Asset Management Inc. now owns 17,048 shares of the company’s stock valued at $559,000 after purchasing an additional 577 shares during the period. SOA Wealth Advisors LLC. boosted its position in shares of Brookfield Renewable by 8.8% during the second quarter. SOA Wealth Advisors LLC. now owns 8,709 shares of the company’s stock valued at $285,000 after purchasing an additional 701 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in Brookfield Renewable by 4.3% in the first quarter. Voya Investment Management LLC now owns 17,114 shares of the company’s stock worth $478,000 after purchasing an additional 704 shares during the period. 75.12% of the stock is owned by institutional investors.

Brookfield Renewable Price Performance

Shares of BEPC opened at $44.36 on Friday. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $44.71. The company has a market capitalization of $6.43 billion, a P/E ratio of -49.84 and a beta of 1.29. The firm has a 50 day moving average of $37.31 and a 200 day moving average of $33.82. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19.

Brookfield Renewable Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a $0.373 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.49 annualized dividend and a dividend yield of 3.4%. Brookfield Renewable’s payout ratio is currently -167.42%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays raised their price objective on Brookfield Renewable from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. Morgan Stanley lifted their price target on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Weiss Ratings restated a “sell (d)” rating on shares of Brookfield Renewable in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.50.

Brookfield Renewable Profile

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.