Norges Bank bought a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC – Free Report) during the 4th quarter, Holdings Channel.com reports. The firm bought 1,776,754 shares of the company’s stock, valued at approximately $68,132,000.
Several other hedge funds have also recently bought and sold shares of BEPC. CIBC Bancorp USA Inc. acquired a new position in Brookfield Renewable during the third quarter worth $98,293,000. UBS Group AG increased its position in 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 buying an additional 1,247,953 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in 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 valued at $97,457,000 after acquiring an additional 985,442 shares during the period. Wellington Management Group LLP bought a new stake in Brookfield Renewable during the third quarter valued at about $20,811,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Brookfield Renewable by 29.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,910,810 shares of the company’s stock valued at $65,768,000 after acquiring an additional 437,006 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BEPC has been the subject of a number of recent analyst reports. Morgan Stanley restated an “underweight” rating and set a $42.00 price target (down from $48.00) on shares of Brookfield Renewable in a report on Monday, March 23rd. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Weiss Ratings cut shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $42.33.
Brookfield Renewable Stock Performance
NYSE BEPC opened at $38.76 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.81. The firm has a 50-day simple moving average of $39.36 and a 200 day simple moving average of $40.07. Brookfield Renewable Corporation has a twelve month low of $29.37 and a twelve month high of $45.18.
Brookfield Renewable Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.0%.
About Brookfield Renewable
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
- Samsara Just Answered The AI Question—Is Wall Street Ready To Listen?
- IREN’s 800MW Bet Flips the AI Power Switch
- CrowdStrike Earnings Beat Sparks Selloff—Buy the Dip?
- Tesla’s EV Rebound Leaves Rivian and Lucid Facing a Tougher Investor Test
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.
-logo-1200x675.jpg){kind=logo}
