Brookfield Renewable Corporation $BEPC Stake Increased by Raymond James Financial Inc.

Raymond James Financial Inc. increased its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 23.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,852 shares of the company’s stock after buying an additional 30,840 shares during the period. Raymond James Financial Inc. owned about 0.11% of Brookfield Renewable worth $4,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New England Capital Financial Advisors LLC bought a new stake in shares of Brookfield Renewable in the 1st quarter worth about $28,000. MassMutual Private Wealth & Trust FSB increased its holdings in Brookfield Renewable by 43.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company’s stock valued at $35,000 after buying an additional 374 shares during the last quarter. Measured Risk Portfolios Inc. bought a new stake in Brookfield Renewable in the fourth quarter valued at about $52,000. Tsfg LLC increased its holdings in Brookfield Renewable by 97.9% in the first quarter. Tsfg LLC now owns 2,050 shares of the company’s stock valued at $57,000 after buying an additional 1,014 shares during the last quarter. Finally, Rossby Financial LCC bought a new stake in Brookfield Renewable in the first quarter valued at about $61,000. Institutional investors own 75.12% of the company’s stock.

Analyst Upgrades and Downgrades

BEPC has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. boosted their price target on Brookfield Renewable from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Brookfield Renewable has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Brookfield Renewable Stock Down 1.3%

Brookfield Renewable stock opened at $33.20 on Friday. Brookfield Renewable Corporation has a one year low of $23.73 and a one year high of $37.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market capitalization of $4.81 billion, a P/E ratio of -37.30 and a beta of 1.13. The company has a 50-day simple moving average of $34.28 and a 200-day simple moving average of $30.70.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 29th. 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.