Janney Montgomery Scott LLC Raises Stake in Brookfield Renewable Corporation $BEPC

Janney Montgomery Scott LLC grew its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,015 shares of the company’s stock after purchasing an additional 957 shares during the period. Janney Montgomery Scott LLC’s holdings in Brookfield Renewable were worth $656,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted 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 worth $159,596,000 after purchasing an additional 135,776 shares in the last quarter. Parnassus Investments LLC boosted its position in shares of Brookfield Renewable by 24.2% in the 1st quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company’s stock worth $135,574,000 after buying an additional 945,297 shares in the last quarter. Principal Financial Group Inc. boosted its position 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 worth $123,713,000 after buying an additional 251,310 shares in the last quarter. Robeco Schweiz AG boosted its position in shares of Brookfield Renewable by 1.7% in the 1st quarter. Robeco Schweiz AG now owns 2,048,008 shares of the company’s stock worth $57,180,000 after buying an additional 35,008 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Brookfield Renewable by 4.7% in the 1st 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 in the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Trading Up 0.6%

Shares of BEPC stock opened at $40.87 on Friday. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $41.73. The firm has a 50-day moving average price of $34.88 and a 200 day moving average price of $32.20. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of -45.92 and a beta of 1.21.

Brookfield Renewable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were paid a dividend of $0.373 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.7%. Brookfield Renewable’s dividend payout ratio is currently -167.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BEPC shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Renewable in a research report on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Brookfield Renewable presently has an average rating of “Hold” and a consensus target price of $36.50.

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.