Brookfield Renewable Corporation $BEPC Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. reduced its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 923,050 shares of the company’s stock after selling 25,225 shares during the period. Cibc World Market Inc. owned 0.64% of Brookfield Renewable worth $31,771,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BEPC. Parnassus Investments LLC lifted its stake in shares of Brookfield Renewable by 1.4% during the third quarter. Parnassus Investments LLC now owns 5,337,630 shares of the company’s stock valued at $183,721,000 after buying an additional 74,543 shares during the period. Principal Financial Group Inc. raised its holdings in Brookfield Renewable by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 4,646,524 shares of the company’s stock valued at $159,935,000 after acquiring an additional 121,328 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Brookfield Renewable by 10.8% during the 2nd quarter. Legal & General Group Plc now owns 3,827,746 shares of the company’s stock worth $125,179,000 after purchasing an additional 373,517 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Brookfield Renewable by 49.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock worth $97,457,000 after purchasing an additional 985,442 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of Brookfield Renewable by 30.3% in the second quarter. Baird Financial Group Inc. now owns 2,635,781 shares of the company’s stock valued at $86,401,000 after purchasing an additional 613,513 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Analyst Upgrades and Downgrades

BEPC has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Barclays boosted their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.00.

Brookfield Renewable Price Performance

Shares of NYSE BEPC opened at $43.27 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.39. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $45.10. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of -48.62 and a beta of 1.22. The business has a 50-day moving average of $39.55 and a 200-day moving average of $38.18.

Brookfield Renewable Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a dividend of $0.392 per share. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, February 27th. Brookfield Renewable’s payout ratio is -175.28%.

Brookfield Renewable Profile

Brookfield Renewable Corporation (NYSE: BEPC) is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company’s operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.