Geode Capital Management LLC Raises Stake in Brookfield Renewable Corporation $BEPC

Geode Capital Management LLC boosted its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,086,768 shares of the company’s stock after acquiring an additional 83,974 shares during the period. Geode Capital Management LLC owned 1.44% of Brookfield Renewable worth $79,745,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Torren Management LLC purchased a new position in Brookfield Renewable during the 4th quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Brookfield Renewable during the 4th quarter valued at about $27,000. Princeton Global Asset Management LLC lifted its position in Brookfield Renewable by 102.5% during the 4th quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock valued at $31,000 after acquiring an additional 405 shares during the period. Smartleaf Asset Management LLC lifted its position in Brookfield Renewable by 191.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after acquiring an additional 655 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in 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 acquiring an additional 543 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BEPC shares. 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. JPMorgan Chase & Co. raised their price objective 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. Finally, Morgan Stanley restated an “underweight” rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $42.33.

Brookfield Renewable Price Performance

Shares of BEPC stock opened at $38.76 on Monday. The company has a 50 day moving average price of $39.36 and a 200-day moving average price of $40.05. Brookfield Renewable Corporation has a 52 week low of $29.37 and a 52 week high of $45.18. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.81.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a $0.392 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.0%.

About Brookfield Renewable

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.