Belpointe Asset Management LLC Grows Position in Brookfield Renewable Corporation $BEPC

Belpointe Asset Management LLC boosted its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,413 shares of the company’s stock after purchasing an additional 1,311 shares during the period. Belpointe Asset Management LLC’s holdings in Brookfield Renewable were worth $341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MAI Capital Management raised its holdings in Brookfield Renewable by 59.0% during the first quarter. MAI Capital Management now owns 951 shares of the company’s stock valued at $27,000 after acquiring an additional 353 shares during the period. New England Capital Financial Advisors LLC bought a new stake in Brookfield Renewable during the first quarter valued at about $28,000. Monetary Management Group Inc. bought a new stake in Brookfield Renewable during the first quarter valued at about $28,000. SVB Wealth LLC bought a new stake in Brookfield Renewable during the first quarter valued at about $52,000. Finally, Tsfg LLC raised its holdings in Brookfield Renewable by 97.9% during the first quarter. Tsfg LLC now owns 2,050 shares of the company’s stock valued at $57,000 after acquiring an additional 1,014 shares during the period. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on BEPC. Weiss Ratings reissued a “sell (d)” rating on shares of Brookfield Renewable in a report on Wednesday. Morgan Stanley raised their price target on Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. lifted their target price on Brookfield Renewable from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.75.

Brookfield Renewable Trading Down 1.4%

Shares of BEPC stock opened at $37.55 on Friday. Brookfield Renewable Corporation has a 12-month low of $23.73 and a 12-month high of $39.20. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. The stock’s 50-day moving average price is $34.41 and its 200-day moving average price is $31.87. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of -42.20 and a beta of 1.21.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 29th were given a $0.373 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.49 annualized dividend and a yield of 4.0%. Brookfield Renewable’s dividend payout ratio (DPR) is currently -167.42%.

Brookfield Renewable Profile

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.