Northwestern Mutual Wealth Management Co. Purchases 153,513 Shares of Brookfield Renewable Corporation $BEPC

Northwestern Mutual Wealth Management Co. raised its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 693.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,644 shares of the company’s stock after acquiring an additional 153,513 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.12% of Brookfield Renewable worth $6,734,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Torren Management LLC purchased a new stake in shares of Brookfield Renewable during the fourth quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Brookfield Renewable during the fourth quarter valued at $27,000. Princeton Global Asset Management LLC boosted its stake in shares of Brookfield Renewable by 102.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock valued at $31,000 after purchasing an additional 405 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Brookfield Renewable by 191.5% during the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after purchasing an additional 655 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Brookfield Renewable by 88.4% during the second 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 during the period. Institutional investors own 75.12% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays boosted their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Weiss Ratings lowered shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Morgan Stanley reissued an “underweight” rating and set a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $42.33.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $37.52 on Friday. Brookfield Renewable Corporation has a 1-year low of $27.79 and a 1-year high of $45.18. The company has a 50-day moving average of $39.52 and a 200 day moving average of $40.37. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.81.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a $0.392 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.2%.

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.