Investment Research Partners LLC Makes New $1.23 Million Investment in Brookfield Renewable Corporation $BEPC

Investment Research Partners LLC bought a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 35,643 shares of the company’s stock, valued at approximately $1,227,000.

Several other institutional investors have also recently made changes to their positions in BEPC. Quantbot Technologies LP raised its holdings in Brookfield Renewable by 728.3% in the third quarter. Quantbot Technologies LP now owns 130,474 shares of the company’s stock worth $4,491,000 after purchasing an additional 114,722 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Brookfield Renewable during the 3rd quarter valued at $1,342,000. Vanguard Group Inc. boosted its holdings in shares of Brookfield Renewable by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock valued at $206,717,000 after buying an additional 151,186 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Brookfield Renewable by 9.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company’s stock worth $18,348,000 after buying an additional 46,796 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Brookfield Renewable by 699.1% in the 3rd quarter. SG Americas Securities LLC now owns 221,279 shares of the company’s stock worth $7,616,000 after acquiring an additional 193,588 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BEPC. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Morgan Stanley raised their target price on shares of Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Wall Street Zen upgraded shares of Brookfield Renewable from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Barclays boosted their price target on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.00.

Brookfield Renewable Stock Performance

Shares of Brookfield Renewable stock opened at $40.19 on Thursday. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $45.18. The firm’s 50-day moving average is $41.11 and its 200 day moving average is $39.54. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of -45.15 and a beta of 1.24. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.26 and a quick ratio of 0.26.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a $0.392 dividend. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, February 27th. Brookfield Renewable’s payout ratio is currently -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.