TD Asset Management Inc Acquires 17,823 Shares of Brookfield Renewable Corporation $BEPC

TD Asset Management Inc grew its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 412,036 shares of the company’s stock after acquiring an additional 17,823 shares during the quarter. TD Asset Management Inc owned 0.28% of Brookfield Renewable worth $14,184,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BEPC. AQR Capital Management LLC purchased a new position in Brookfield Renewable in the 1st quarter worth $756,000. Integrated Wealth Concepts LLC purchased a new position in shares of Brookfield Renewable in the first quarter worth about $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Brookfield Renewable by 115.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,963 shares of the company’s stock valued at $1,813,000 after acquiring an additional 34,799 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Brookfield Renewable by 32.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company’s stock valued at $17,995,000 after acquiring an additional 158,771 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Brookfield Renewable by 2.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,020 shares of the company’s stock valued at $6,310,000 after acquiring an additional 4,768 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

Shares of Brookfield Renewable stock opened at $42.71 on Monday. The business has a 50 day moving average of $40.64 and a 200 day moving average of $38.93. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $45.18. The company has a market cap of $6.19 billion, a PE ratio of -47.99 and a beta of 1.24. The company has a quick ratio of 0.39, a current ratio of 0.13 and a debt-to-equity ratio of 1.21.

Brookfield Renewable Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.392 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 annualized dividend and a dividend yield of 3.7%. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio is -176.40%.

Analysts Set New Price Targets

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

Brookfield Renewable Company 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.