Fox Run Management L.L.C. Purchases New Stake in Brookfield Renewable Corporation $BEPC

Fox Run Management L.L.C. acquired a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 26,623 shares of the company’s stock, valued at approximately $916,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of Brookfield Renewable by 191.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after acquiring an additional 655 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Brookfield Renewable by 88.4% during the second 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 acquired a new position in Brookfield Renewable in the 2nd quarter valued at about $42,000. Farther Finance Advisors LLC boosted its holdings in Brookfield Renewable by 180.3% in 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 during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Brookfield Renewable in the 3rd quarter valued at approximately $81,000. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Trading Up 0.6%

BEPC opened at $44.02 on Friday. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $45.18. The company has a quick ratio of 0.39, a current ratio of 0.13 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $40.55 and a 200-day simple moving average of $38.79. The firm has a market cap of $6.38 billion, a P/E ratio of -49.46 and a beta of 1.22.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a $0.392 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 annualized dividend and a yield of 3.6%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio is presently -167.42%.

Analyst Ratings Changes

BEPC has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Barclays lifted their target price on Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Finally, Morgan Stanley raised their price objective on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.