Legal & General Group Plc grew its stake in Brookfield Renewable Corporation (NYSE:BEPC – Free Report) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,160,715 shares of the company’s stock after buying an additional 215,911 shares during the period. Legal & General Group Plc’s holdings in Brookfield Renewable were worth $159,809,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in BEPC. CIBC Bancorp USA Inc. purchased a new stake in shares of Brookfield Renewable during the third quarter worth about $98,293,000. UBS Group AG grew its position in shares of Brookfield Renewable by 225.2% during the fourth quarter. UBS Group AG now owns 1,802,162 shares of the company’s stock worth $69,095,000 after purchasing an additional 1,247,953 shares in the last quarter. Canada Pension Plan Investment Board grew its position 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 in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Brookfield Renewable during the third quarter worth about $20,811,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Brookfield Renewable by 29.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,910,810 shares of the company’s stock worth $65,768,000 after purchasing an additional 437,006 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.
Analyst Ratings Changes
Several analysts recently issued reports on BEPC shares. Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. JPMorgan Chase & Co. increased their target price on Brookfield Renewable from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Morgan Stanley reiterated an “underweight” rating and set a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. Finally, Weiss Ratings cut Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Brookfield Renewable presently has an average rating of “Reduce” and an average target price of $42.33.
Brookfield Renewable Trading Up 0.2%
NYSE BEPC opened at $39.15 on Thursday. The business has a 50 day simple moving average of $39.43 and a two-hundred day simple moving average of $40.23. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33. Brookfield Renewable Corporation has a 1-year low of $28.76 and a 1-year high of $45.18.
Brookfield Renewable Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, May 29th.
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.
Featured Articles
- Five stocks we like better than Brookfield Renewable
- Abercrombie Rallies as Strong Q1 Earnings Extend Winning Streak
- TeraWulf Bets on Power Infrastructure to Lead AI Build-Out
- Amazon’s Alexa for Shopping Strengthens an Already Strong Bull Case
- Keysight: The AI and Defense Stock Seeing Big Price Target Boosts
Want to see what other hedge funds are holding BEPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Renewable Corporation (NYSE:BEPC – Free Report).
Receive News & Ratings for Brookfield Renewable Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Renewable and related companies with MarketBeat.com's FREE daily email newsletter.
