Public Employees Retirement System of Ohio Buys New Stake in Brookfield Renewable Corporation $BEPC

Public Employees Retirement System of Ohio purchased a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 61,150 shares of the company’s stock, valued at approximately $2,271,000.

Other institutional investors also recently made changes to their positions in the company. Clearbridge Investments LLC lifted its position in shares of Brookfield Renewable by 103.3% in the fourth quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company’s stock valued at $353,183,000 after acquiring an additional 4,681,203 shares in the last quarter. Norges Bank purchased a new stake in Brookfield Renewable during the 4th quarter worth about $68,132,000. Canada Pension Plan Investment Board raised its stake in Brookfield Renewable by 49.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock valued at $97,457,000 after purchasing an additional 985,442 shares during the last quarter. Gotham Asset Management LLC raised its stake in Brookfield Renewable by 128.4% in the 4th quarter. Gotham Asset Management LLC now owns 1,287,302 shares of the company’s stock valued at $49,355,000 after purchasing an additional 723,692 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Brookfield Renewable in the 3rd quarter valued at about $20,811,000. 75.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BEPC has been the topic of several analyst reports. Barclays raised their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $39.00.

Brookfield Renewable Stock Up 0.9%

Shares of NYSE:BEPC opened at $31.78 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s 50-day moving average price is $34.03 and its two-hundred day moving average price is $37.70. Brookfield Renewable Corporation has a 12-month low of $30.91 and a 12-month high of $45.18.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.392 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.57 annualized dividend and a yield of 4.9%.

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.