Brookfield Renewable Corporation $BEPC Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,764 shares of the company’s stock after acquiring an additional 2,331 shares during the quarter. HighTower Advisors LLC’s holdings in Brookfield Renewable were worth $1,780,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Nuveen LLC acquired a new position in shares of Brookfield Renewable in the first quarter worth about $11,486,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Brookfield Renewable by 44.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,633 shares of the company’s stock valued at $17,383,000 after buying an additional 190,424 shares in the last quarter. Everett Harris & Co. CA raised its stake in Brookfield Renewable by 33.1% during the first quarter. Everett Harris & Co. CA now owns 16,075 shares of the company’s stock valued at $449,000 after buying an additional 4,000 shares in the last quarter. Forsta AP Fonden acquired a new stake in Brookfield Renewable during the first quarter valued at approximately $1,409,000. Finally, Arjuna Capital raised its stake in Brookfield Renewable by 50.9% during the first quarter. Arjuna Capital now owns 91,462 shares of the company’s stock valued at $2,554,000 after buying an additional 30,851 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company cut their price objective on Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. upped their price objective on Brookfield Renewable from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.67.

Brookfield Renewable Stock Up 2.4%

NYSE:BEPC opened at $34.1840 on Monday. The firm has a market capitalization of $4.95 billion, a PE ratio of -38.41 and a beta of 1.17. The stock has a 50 day moving average of $33.98 and a 200-day moving average of $30.31. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $37.00. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 4.4%. Brookfield Renewable’s dividend payout ratio is -167.42%.

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