TD Waterhouse Canada Inc. Decreases Stock Holdings in Brookfield Renewable Corporation $BEPC

TD Waterhouse Canada Inc. reduced its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 13.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,250,512 shares of the company’s stock after selling 193,659 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.86% of Brookfield Renewable worth $44,269,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in Brookfield Renewable during the second quarter valued at $58,250,000. Canada Pension Plan Investment Board increased its holdings in shares of Brookfield Renewable by 49.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock worth $97,457,000 after buying an additional 985,442 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Brookfield Renewable by 30.3% during the 2nd quarter. Baird Financial Group Inc. now owns 2,635,781 shares of the company’s stock valued at $86,401,000 after buying an additional 613,513 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Brookfield Renewable by 110.9% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,163,533 shares of the company’s stock valued at $38,141,000 after acquiring an additional 611,792 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new position in Brookfield Renewable in the second quarter worth about $15,116,000. Institutional investors own 75.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BEPC shares. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Morgan Stanley increased 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. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Barclays lifted their price objective on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable has a consensus rating of “Hold” and an average price target of $40.00.

Brookfield Renewable Price Performance

Shares of BEPC stock opened at $40.64 on Thursday. The stock has a 50 day moving average price of $39.40 and a 200 day moving average price of $37.76. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $45.10. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $5.89 billion, a P/E ratio of -45.66 and a beta of 1.23.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Renewable’s payout ratio is currently -167.42%.

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.