Baird Financial Group Inc. Purchases 613,513 Shares of Brookfield Renewable Corporation $BEPC

Baird Financial Group Inc. boosted its position in Brookfield Renewable Corporation (NYSE:BEPC) by 30.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,635,781 shares of the company’s stock after purchasing an additional 613,513 shares during the period. Baird Financial Group Inc. owned approximately 1.82% of Brookfield Renewable worth $86,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. MAI Capital Management boosted its holdings in Brookfield Renewable by 59.0% during the 1st quarter. MAI Capital Management now owns 951 shares of the company’s stock valued at $27,000 after acquiring an additional 353 shares during the period. Monetary Management Group Inc. bought a new stake in Brookfield Renewable during the 1st quarter valued at about $28,000. Curio Wealth LLC increased its holdings in Brookfield Renewable by 95,300.0% during the 2nd quarter. Curio Wealth LLC now owns 954 shares of the company’s stock worth $31,000 after purchasing an additional 953 shares during the period. EverSource Wealth Advisors LLC raised its position in Brookfield Renewable by 88.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after purchasing an additional 543 shares in the last quarter. Finally, Employees Retirement System of Texas bought a new stake in Brookfield Renewable during the 2nd quarter valued at $42,000. Institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their price target on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Barclays boosted their price target on shares of Brookfield Renewable from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Brookfield Renewable has an average rating of “Hold” and a consensus target price of $39.75.

Brookfield Renewable Trading Up 1.4%

Shares of NYSE:BEPC opened at $40.07 on Friday. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of -45.02 and a beta of 1.23. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $45.10. The business has a 50-day moving average price of $40.45 and a 200-day moving average price of $35.67. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.21.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -167.42%.

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.