Envestnet Asset Management Inc. Boosts Stock Holdings in Brookfield Renewable Corporation $BEPC

Envestnet Asset Management Inc. boosted its position in Brookfield Renewable Corporation (NYSE:BEPC) by 9.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 533,066 shares of the company’s stock after buying an additional 46,796 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.37% of Brookfield Renewable worth $18,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Brookfield Renewable in the 2nd quarter worth about $58,250,000. Canada Pension Plan Investment Board increased its stake in shares of Brookfield Renewable by 49.6% in 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 in the last quarter. Baird Financial Group Inc. increased its stake 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 worth $86,401,000 after purchasing an additional 613,513 shares in the last quarter. Epoch Investment Partners Inc. raised its position in shares of Brookfield Renewable by 110.9% in the second quarter. Epoch Investment Partners Inc. now owns 1,163,533 shares of the company’s stock valued at $38,141,000 after purchasing an additional 611,792 shares during the period. Finally, 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 valued at $125,179,000 after buying an additional 373,517 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Up 1.7%

Shares of BEPC opened at $43.81 on Friday. 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 stock has a 50 day simple moving average of $39.70 and a two-hundred day simple moving average of $38.27. The firm has a market cap of $6.35 billion, a P/E ratio of -49.23 and a beta of 1.22.

Brookfield Renewable Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a $0.392 dividend. This is an increase 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 yield of 3.6%. Brookfield Renewable’s payout ratio is presently -175.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BEPC shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Morgan Stanley raised their target price on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Finally, Barclays increased their price target 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 analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Brookfield Renewable presently has an average rating of “Hold” and a consensus price target of $40.00.

Brookfield Renewable Company 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.