Envestnet Asset Management Inc. Boosts Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

Envestnet Asset Management Inc. raised its stake in shares of Brookfield Renewable Co. (NYSE:BEPC – Get Rating) by 7.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,450 shares of the company’s stock after acquiring an additional 6,859 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Brookfield Renewable worth $3,315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new stake in Brookfield Renewable during the 3rd quarter valued at $560,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Brookfield Renewable by 26.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,207,170 shares of the company’s stock valued at $39,397,000 after purchasing an additional 252,259 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Brookfield Renewable by 2,026.6% in the third quarter. Tower Research Capital LLC TRC now owns 11,420 shares of the company’s stock worth $375,000 after purchasing an additional 10,883 shares in the last quarter. Korea Investment CORP lifted its holdings in Brookfield Renewable by 22.5% in the third quarter. Korea Investment CORP now owns 21,932 shares of the company’s stock worth $721,000 after acquiring an additional 4,033 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in Brookfield Renewable during the third quarter worth approximately $230,000. Institutional investors and hedge funds own 68.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company decreased their target price on shares of Brookfield Renewable from $41.00 to $37.00 and set an “overweight” rating for the company in a research note on Monday, November 7th.

Brookfield Renewable Price Performance

Shares of Brookfield Renewable stock opened at $29.49 on Tuesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -49.15 and a beta of 1.03. Brookfield Renewable Co. has a 1-year low of $27.19 and a 1-year high of $44.41. The firm’s 50-day moving average price is $29.57 and its two-hundred day moving average price is $32.14.

Brookfield Renewable Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Tuesday, February 28th will be paid a dividend of $0.338 per share. This represents a $1.35 annualized dividend and a yield of 4.58%. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, February 27th. Brookfield Renewable’s dividend payout ratio is currently -225.00%.

Brookfield Renewable Company Profile

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Brookfield Renewable Corporation owns and operates a portfolio of renewable energy power generating facilities primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, and solar power plants with an installed capacity of approximately 12,723 megawatts. The company was incorporated in 2019 and is headquartered in New York, New York.