AIA Group Ltd Makes New $720,000 Investment in Brookfield Renewable Corporation $BEPC

AIA Group Ltd purchased a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,917 shares of the company’s stock, valued at approximately $720,000.

Other institutional investors and hedge funds have also modified their holdings of the company. 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 during the last quarter. State Board of Administration of Florida Retirement System grew its position 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 buying an additional 350 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of 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 valued at $2,068,000 after buying an additional 368 shares during the period. Sei Investments Co. increased its stake in shares of Brookfield Renewable by 2.7% in the third quarter. Sei Investments Co. now owns 14,309 shares of the company’s stock valued at $493,000 after buying an additional 375 shares during the period. Finally, Cardinal Point Capital Management ULC raised its position in shares of Brookfield Renewable by 5.6% during the third quarter. Cardinal Point Capital Management ULC now owns 7,168 shares of the company’s stock worth $247,000 after acquiring an additional 380 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BEPC shares. Wall Street Zen raised Brookfield Renewable from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Morgan Stanley raised their price target on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Finally, Barclays boosted their price objective on Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Three equities 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.00.

Brookfield Renewable Trading Down 4.1%

Shares of BEPC opened at $38.70 on Friday. Brookfield Renewable Corporation has a fifty-two week low of $23.73 and a fifty-two week high of $45.18. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of -43.48 and a beta of 1.24. The firm has a 50 day moving average price of $41.18 and a 200-day moving average price of $39.58. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.26 and a current ratio of 0.26.

Brookfield Renewable Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a $0.392 dividend. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, February 27th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -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.