Allianz Asset Management GmbH Has $383,000 Stock Position in Brookfield Renewable Corporation $BEPC

Allianz Asset Management GmbH lowered its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 57.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,696 shares of the company’s stock after selling 15,771 shares during the period. Allianz Asset Management GmbH’s holdings in Brookfield Renewable were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc raised its holdings in shares of Brookfield Renewable by 114.4% in the 2nd quarter. TD Asset Management Inc now owns 394,213 shares of the company’s stock worth $12,913,000 after acquiring an additional 210,364 shares during the last quarter. Alpine Woods Capital Investors LLC raised its holdings in shares of Brookfield Renewable by 62.8% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 32,375 shares of the company’s stock worth $1,061,000 after acquiring an additional 12,493 shares during the last quarter. Griffin Asset Management Inc. raised its holdings in shares of Brookfield Renewable by 3.5% in the 2nd quarter. Griffin Asset Management Inc. now owns 17,048 shares of the company’s stock worth $559,000 after acquiring an additional 577 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Brookfield Renewable by 5.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,796 shares of the company’s stock worth $715,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Comprehensive Money Management Services LLC raised its holdings in shares of Brookfield Renewable by 43.0% in the 2nd quarter. Comprehensive Money Management Services LLC now owns 20,152 shares of the company’s stock worth $661,000 after acquiring an additional 6,057 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Trading Up 0.8%

Shares of BEPC stock opened at $40.93 on Tuesday. The company has a 50 day moving average of $35.79 and a 200-day moving average of $32.94. 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 12-month low of $23.73 and a 12-month high of $41.73. The firm has a market cap of $5.93 billion, a P/E ratio of -45.99 and a beta of 1.21.

Brookfield Renewable Announces Dividend

The business also recently declared 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 was Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 3.6%. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

Analysts Set New Price Targets

BEPC has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. upped their target price on shares of Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brookfield Renewable in a research report on Wednesday, October 8th. Finally, Barclays upped their price objective on shares of Brookfield Renewable from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.50.

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.