Modern Wealth Management LLC Acquires 919 Shares of Brookfield Renewable Corporation $BEPC

Modern Wealth Management LLC raised its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,529 shares of the company’s stock after acquiring an additional 919 shares during the period. Modern Wealth Management LLC’s holdings in Brookfield Renewable were worth $406,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BEPC. Vanguard Group Inc. increased its position in shares of Brookfield Renewable by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 5,717,397 shares of the company’s stock valued at $159,596,000 after purchasing an additional 135,776 shares during the last quarter. Parnassus Investments LLC grew its holdings in shares of Brookfield Renewable by 24.2% in the first quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company’s stock worth $135,574,000 after acquiring an additional 945,297 shares during the period. Principal Financial Group Inc. lifted its position in shares of Brookfield Renewable by 6.0% in the first quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company’s stock valued at $123,713,000 after acquiring an additional 251,310 shares in the last quarter. Robeco Schweiz AG raised its position in Brookfield Renewable by 1.7% during the first quarter. Robeco Schweiz AG now owns 2,048,008 shares of the company’s stock valued at $57,180,000 after purchasing an additional 35,008 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in shares of Brookfield Renewable by 4.7% in the first quarter. Baird Financial Group Inc. now owns 2,022,268 shares of the company’s stock worth $56,462,000 after buying an additional 91,367 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Up 0.3%

Shares of NYSE BEPC opened at $33.98 on Monday. The business’s 50 day moving average is $34.32 and its two-hundred day moving average is $30.91. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of -38.18 and a beta of 1.13. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $37.00.

Brookfield Renewable Dividend Announcement

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

Analysts Set New Price Targets

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

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.