Envestnet Asset Management Inc. Has $11.13 Million Stock Position in Brookfield Renewable Corporation (NYSE:BEPC)

Envestnet Asset Management Inc. cut its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 32.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,772 shares of the company’s stock after selling 187,830 shares during the period. Envestnet Asset Management Inc. owned approximately 0.28% of Brookfield Renewable worth $11,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Brookfield Renewable by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company’s stock valued at $154,464,000 after purchasing an additional 106,880 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable by 6.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company’s stock valued at $123,713,000 after purchasing an additional 251,310 shares during the last quarter. ClearBridge Investments Ltd grew its position in Brookfield Renewable by 31.1% during the 4th quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company’s stock worth $80,071,000 after acquiring an additional 686,319 shares during the last quarter. Epoch Investment Partners Inc. grew its position in Brookfield Renewable by 27.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company’s stock worth $62,295,000 after acquiring an additional 490,448 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in Brookfield Renewable by 1.9% during the 4th quarter. Baird Financial Group Inc. now owns 1,930,901 shares of the company’s stock worth $53,409,000 after acquiring an additional 36,670 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Stock Performance

Shares of BEPC opened at $36.34 on Friday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of -40.83 and a beta of 1.16. The stock has a 50 day moving average of $31.59 and a 200 day moving average of $28.83. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $36.45.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Renewable’s payout ratio is currently -167.42%.

Analyst Upgrades and Downgrades

BEPC has been the topic of a number of research reports. Barclays started coverage on Brookfield Renewable in a research report on Wednesday, April 2nd. They set an “equal weight” rating and a $31.00 price objective on the stock. Wells Fargo & Company reduced their price target on Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th.

About Brookfield Renewable

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, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.