Citigroup Inc. Grows Holdings in Brookfield Renewable Corporation $BEPC

Citigroup Inc. increased its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 20.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 475,885 shares of the company’s stock after buying an additional 81,530 shares during the period. Citigroup Inc. owned about 0.33% of Brookfield Renewable worth $16,386,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BEPC. Modern Wealth Management LLC grew its holdings in Brookfield Renewable by 2.3% during the 2nd quarter. Modern Wealth Management LLC now owns 14,856 shares of the company’s stock worth $487,000 after acquiring an additional 327 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Brookfield Renewable by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 130,474 shares of the company’s stock valued at $4,277,000 after purchasing an additional 350 shares in the last quarter. Gilbert & Cook Inc. lifted its position in shares of Brookfield Renewable by 4.3% during the second quarter. Gilbert & Cook Inc. now owns 8,594 shares of the company’s stock worth $282,000 after purchasing an additional 357 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in Brookfield Renewable by 0.6% in the second quarter. Treasurer of the State of North Carolina now owns 63,088 shares of the company’s stock worth $2,068,000 after purchasing an additional 368 shares in the last quarter. Finally, Cardinal Point Capital Management ULC grew its stake in Brookfield Renewable by 5.6% in the third quarter. Cardinal Point Capital Management ULC now owns 7,168 shares of the company’s stock worth $247,000 after purchasing an additional 380 shares in the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Trading Down 3.0%

NYSE:BEPC opened at $42.71 on Friday. The firm has a market capitalization of $6.19 billion, a P/E ratio of -47.99 and a beta of 1.22. The business has a 50 day simple moving average of $40.64 and a 200 day simple moving average of $38.86. 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 12-month low of $23.73 and a 12-month high of $45.18.

Brookfield Renewable Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a $0.392 dividend. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.7%. Brookfield Renewable’s dividend payout ratio is -167.42%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Morgan Stanley raised their price objective on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Finally, Barclays lifted their price objective on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.00.

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.