Kirtland Hills Capital Management LLC Invests $6.37 Million in Brookfield Renewable Corporation $BEPC

Kirtland Hills Capital Management LLC bought a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 149,506 shares of the company’s stock, valued at approximately $6,367,000. Brookfield Renewable accounts for about 1.8% of Kirtland Hills Capital Management LLC’s investment portfolio, making the stock its 9th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Plato Investment Management Ltd bought a new stake in Brookfield Renewable in the second quarter worth $691,000. Allied Private Wealth LLC purchased a new stake in shares of Brookfield Renewable in the second quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Brookfield Renewable in the second quarter valued at $33,000. Assenagon Asset Management S.A. lifted its holdings in shares of Brookfield Renewable by 113.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 17,821 shares of the company’s stock worth $662,000 after acquiring an additional 9,483 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Brookfield Renewable by 28.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,581 shares of the company’s stock worth $96,000 after purchasing an additional 568 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Wall Street Analyst Weigh In

BEPC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Barclays upped their target price on Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Sunday, August 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Brookfield Renewable has an average rating of “Reduce” and a consensus price target of $39.00.

Brookfield Renewable Stock Down 0.4%

Shares of BEPC stock opened at $33.32 on Friday. The company’s 50 day moving average is $35.01 and its 200 day moving average is $38.40. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.40 and a quick ratio of 0.40. Brookfield Renewable Corporation has a 52-week low of $31.82 and a 52-week high of $45.18.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, August 31st.

Brookfield Renewable 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.