Washington Trust Advisors Inc. Has $14.22 Million Holdings in Brookfield Renewable Corporation $BEPC

Washington Trust Advisors Inc. lessened its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 413,038 shares of the company’s stock after selling 13,213 shares during the quarter. Brookfield Renewable accounts for approximately 1.1% of Washington Trust Advisors Inc.’s investment portfolio, making the stock its 27th biggest holding. Washington Trust Advisors Inc.’s holdings in Brookfield Renewable were worth $14,217,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its holdings in Brookfield Renewable by 9.6% during the third quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company’s stock worth $18,348,000 after acquiring an additional 46,796 shares in the last quarter. Atria Investments Inc bought a new position in Brookfield Renewable in the second quarter valued at approximately $316,000. SG Americas Securities LLC increased its position in shares of Brookfield Renewable by 699.1% during the 3rd quarter. SG Americas Securities LLC now owns 221,279 shares of the company’s stock worth $7,616,000 after purchasing an additional 193,588 shares during the last quarter. Legal & General Group Plc raised 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 worth $125,179,000 after purchasing an additional 373,517 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. boosted its holdings in shares of Brookfield Renewable by 6.8% in the 3rd quarter. ASR Vermogensbeheer N.V. now owns 912,198 shares of the company’s stock valued at $31,389,000 after buying an additional 57,711 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

NYSE BEPC opened at $42.83 on Monday. The stock has a market cap of $6.21 billion, a PE ratio of -48.13 and a beta of 1.22. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 0.13. The firm has a 50-day moving average of $40.11 and a 200-day moving average of $38.59. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $45.18.

Brookfield Renewable Increases Dividend

The company 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 dividend of $0.392 per share. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, February 27th. Brookfield Renewable’s dividend payout ratio is presently -167.42%.

Wall Street Analysts Forecast Growth

BEPC has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Barclays lifted their price objective on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Finally, Morgan Stanley lifted their price target on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.00.

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.