Allspring Global Investments Holdings LLC raised its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC – Free Report) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,432 shares of the company’s stock after acquiring an additional 1,090 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Brookfield Renewable were worth $739,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in BEPC. Vanguard Group Inc. raised its stake in Brookfield Renewable by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,433,864 shares of the company’s stock valued at $144,899,000 after acquiring an additional 116,408 shares during the last quarter. Principal Financial Group Inc. raised its stake in Brookfield Renewable by 0.8% during the 1st quarter. Principal Financial Group Inc. now owns 4,339,486 shares of the company’s stock valued at $151,665,000 after acquiring an additional 34,376 shares during the last quarter. BlackRock Inc. raised its stake in Brookfield Renewable by 4.6% during the 1st quarter. BlackRock Inc. now owns 3,830,035 shares of the company’s stock valued at $167,754,000 after acquiring an additional 168,284 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in Brookfield Renewable by 58.1% during the 1st quarter. CIBC Private Wealth Group LLC now owns 3,579,341 shares of the company’s stock valued at $125,098,000 after acquiring an additional 1,314,667 shares during the last quarter. Finally, ClearBridge Investments Ltd raised its stake in Brookfield Renewable by 4.6% during the 1st quarter. ClearBridge Investments Ltd now owns 2,685,055 shares of the company’s stock valued at $93,843,000 after acquiring an additional 117,024 shares during the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Wells Fargo & Company cut their target price on Brookfield Renewable from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, September 22nd. BNP Paribas assumed coverage on Brookfield Renewable in a research note on Friday, October 20th. They set an “outperform” rating for the company.
Brookfield Renewable Stock Performance
BEPC opened at $23.68 on Friday. The stock has a market cap of $4.25 billion, a P/E ratio of -48.32 and a beta of 1.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.45 and a quick ratio of 0.39. The stock’s 50 day simple moving average is $24.89 and its 200 day simple moving average is $29.55. Brookfield Renewable Co. has a 1-year low of $21.77 and a 1-year high of $36.16.
Brookfield Renewable Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be issued a $0.338 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date is Wednesday, November 29th. Brookfield Renewable’s dividend payout ratio is currently -275.50%.
Brookfield Renewable Profile
Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, and solar power plants with an installed capacity of approximately 12,857 megawatts. The company was incorporated in 2019 and is headquartered in New York, New York.
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