Intact Investment Management Inc. Boosts Stock Holdings in Brookfield Renewable Corporation (NYSE:BEPC)

Intact Investment Management Inc. grew its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 11.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,200 shares of the company’s stock after purchasing an additional 8,100 shares during the quarter. Intact Investment Management Inc.’s holdings in Brookfield Renewable were worth $2,155,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Curio Wealth LLC purchased a new stake in Brookfield Renewable in the 4th quarter worth $26,000. Atala Financial Inc purchased a new stake in Brookfield Renewable in the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in Brookfield Renewable by 43.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company’s stock worth $35,000 after acquiring an additional 374 shares in the last quarter. Dunhill Financial LLC purchased a new stake in Brookfield Renewable in the 4th quarter worth $41,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in Brookfield Renewable in the 4th quarter worth $52,000. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BEPC has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on shares of Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Barclays initiated coverage on shares of Brookfield Renewable in a report on Wednesday, April 2nd. They issued an “equal weight” rating and a $31.00 price target for the company.

Brookfield Renewable Trading Down 1.2%

Shares of BEPC opened at $31.37 on Friday. Brookfield Renewable Corporation has a 12-month low of $23.73 and a 12-month high of $35.14. The firm has a market capitalization of $4.55 billion, a P/E ratio of -35.25 and a beta of 1.14. The firm has a 50-day moving average price of $29.26 and a 200 day moving average price of $28.18. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, May 30th. Brookfield Renewable’s payout ratio is currently -167.42%.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.