TD Asset Management Inc Purchases 246,867 Shares of Brookfield Renewable Corporation $BEPC

TD Asset Management Inc raised its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 59.9% in the fourth quarter, Holdings Channel reports. The fund owned 658,903 shares of the company’s stock after buying an additional 246,867 shares during the quarter. TD Asset Management Inc’s holdings in Brookfield Renewable were worth $25,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in Brookfield Renewable by 75.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,227,346 shares of the company’s stock valued at $47,056,000 after acquiring an additional 529,649 shares during the period. Natixis Advisors LLC boosted its holdings in Brookfield Renewable by 5.1% during the fourth quarter. Natixis Advisors LLC now owns 52,339 shares of the company’s stock valued at $2,007,000 after acquiring an additional 2,561 shares during the period. BNP Paribas Financial Markets boosted its holdings in Brookfield Renewable by 78.3% during the fourth quarter. BNP Paribas Financial Markets now owns 145,195 shares of the company’s stock valued at $5,567,000 after acquiring an additional 63,773 shares during the period. Edgemoor Investment Advisors Inc. boosted its holdings in Brookfield Renewable by 8.1% during the fourth quarter. Edgemoor Investment Advisors Inc. now owns 62,633 shares of the company’s stock valued at $2,401,000 after acquiring an additional 4,687 shares during the period. Finally, Norges Bank bought a new stake in Brookfield Renewable during the fourth quarter valued at about $68,132,000. 75.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Brookfield Renewable Stock Performance

Shares of BEPC opened at $38.76 on Monday. The company has a 50-day simple moving average of $39.36 and a 200-day simple moving average of $40.05. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.81. Brookfield Renewable Corporation has a 52 week low of $29.37 and a 52 week high of $45.18.

Brookfield Renewable Announces Dividend

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

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.