2,855,450 Shares in Brookfield Renewable Corporation $BEPC Purchased by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. bought a new position in Brookfield Renewable Corporation (NYSE:BEPC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,855,450 shares of the company’s stock, valued at approximately $98,293,000.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in shares of Brookfield Renewable by 191.5% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $35,000 after purchasing an additional 655 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Brookfield Renewable by 88.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after purchasing an additional 543 shares in the last quarter. Employees Retirement System of Texas acquired a new position in shares of Brookfield Renewable in the 2nd quarter worth approximately $42,000. Farther Finance Advisors LLC raised its holdings in shares of Brookfield Renewable by 180.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company’s stock worth $58,000 after purchasing an additional 1,091 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Brookfield Renewable in the 3rd quarter worth approximately $81,000. Institutional investors own 75.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BEPC shares. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Morgan Stanley upped their price target on Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Barclays increased their price objective on Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Finally, Wall Street Zen raised Brookfield Renewable from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable currently has an average rating of “Hold” and a consensus price target of $40.00.

Brookfield Renewable Price Performance

BEPC opened at $41.01 on Wednesday. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of -46.08 and a beta of 1.24. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $45.18. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.35. The stock has a fifty day moving average price of $41.09 and a 200 day moving average price of $39.54.

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 issued a dividend of $0.392 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 annualized dividend and a dividend yield of 3.8%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s payout ratio is currently -175.28%.

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.