JPMorgan Chase & Co. Boosts Stock Position in Brookfield Renewable Corporation $BEPC

JPMorgan Chase & Co. boosted its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 81.0% in the third quarter, HoldingsChannel.com reports. The fund owned 228,888 shares of the company’s stock after purchasing an additional 102,406 shares during the period. JPMorgan Chase & Co.’s holdings in Brookfield Renewable were worth $7,878,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in Brookfield Renewable by 191.5% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after purchasing an additional 655 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 543 shares during the period. Farther Finance Advisors LLC grew its position in shares of Brookfield Renewable by 180.3% during the third quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company’s stock worth $58,000 after buying an additional 1,091 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Brookfield Renewable during the third quarter worth about $81,000. Finally, Huntington National Bank raised its holdings in Brookfield Renewable by 49.5% in the third quarter. Huntington National Bank now owns 3,143 shares of the company’s stock valued at $108,000 after acquiring an additional 1,040 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Saturday. Morgan Stanley reaffirmed an “underweight” rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. Finally, Barclays boosted their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.50.

Brookfield Renewable Stock Performance

Shares of BEPC stock opened at $38.97 on Tuesday. The stock’s 50-day moving average is $41.20 and its two-hundred day moving average is $39.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.26 and a current ratio of 0.26. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $45.18. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -43.79 and a beta of 1.24.

Brookfield Renewable Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a $0.392 dividend. 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 yield of 4.0%. The ex-dividend date is Friday, February 27th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -176.40%.

About Brookfield Renewable

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.