Harvest Portfolios Group Inc. Has $12.89 Million Holdings in Brookfield Renewable Corporation $BEPC

Harvest Portfolios Group Inc. increased its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 374,272 shares of the company’s stock after acquiring an additional 26,724 shares during the period. Harvest Portfolios Group Inc. owned about 0.26% of Brookfield Renewable worth $12,885,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Huntington National Bank boosted its stake in Brookfield Renewable by 49.5% in the third quarter. Huntington National Bank now owns 3,143 shares of the company’s stock worth $108,000 after purchasing an additional 1,040 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Brookfield Renewable by 728.3% in the third quarter. Quantbot Technologies LP now owns 130,474 shares of the company’s stock valued at $4,491,000 after buying an additional 114,722 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Brookfield Renewable by 1,610.9% in the third quarter. Intech Investment Management LLC now owns 167,922 shares of the company’s stock valued at $5,782,000 after buying an additional 158,107 shares during the last quarter. US Bancorp DE lifted its position in Brookfield Renewable by 21.2% during the 3rd quarter. US Bancorp DE now owns 6,735 shares of the company’s stock worth $232,000 after buying an additional 1,176 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Brookfield Renewable during the 3rd quarter worth about $916,000. Institutional investors own 75.12% of the company’s stock.

Analyst Ratings Changes

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

Brookfield Renewable Trading Down 3.0%

NYSE:BEPC opened at $42.71 on Friday. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $45.18. The business’s 50-day moving average price is $40.64 and its two-hundred day moving average price is $38.86. The company has a current ratio of 0.13, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of -47.99 and a beta of 1.22.

Brookfield Renewable Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s payout ratio is -167.42%.

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.