Vanguard Group Inc. Increases Position in Brookfield Renewable Corporation $BEPC

Vanguard Group Inc. boosted its position in Brookfield Renewable Corporation (NYSE:BEPC) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,004,715 shares of the company’s stock after acquiring an additional 151,186 shares during the period. Vanguard Group Inc. owned about 4.14% of Brookfield Renewable worth $206,717,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BEPC. Smartleaf Asset Management LLC grew its holdings in Brookfield Renewable by 191.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after buying an additional 655 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Brookfield Renewable by 88.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after purchasing an additional 543 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in shares of Brookfield Renewable during the 2nd quarter worth $42,000. Farther Finance Advisors LLC grew its position in Brookfield Renewable by 180.3% during the third quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company’s stock valued at $58,000 after acquiring an additional 1,091 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Brookfield Renewable in the 3rd quarter worth about $81,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Trading Down 3.0%

Shares of NYSE:BEPC opened at $42.71 on Monday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 0.13. The stock’s 50-day moving average is $40.64 and its 200-day moving average is $38.93. The company has a market cap of $6.19 billion, a P/E ratio of -47.99 and a beta of 1.24. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $45.18.

Brookfield Renewable Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a dividend of $0.392 per share. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -176.40%.

Analyst Ratings Changes

BEPC has been the topic of a number of recent research reports. Barclays boosted their price objective on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Morgan Stanley boosted their price objective on Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.