Brookfield Renewable Corporation $BEPC Shares Sold by Guardian Capital LP

Guardian Capital LP lessened its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 613,814 shares of the company’s stock after selling 17,108 shares during the period. Guardian Capital LP’s holdings in Brookfield Renewable were worth $21,135,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of 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 in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Brookfield Renewable by 88.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock worth $38,000 after purchasing an additional 543 shares during the period. Employees Retirement System of Texas acquired a new position in Brookfield Renewable in the second quarter worth $42,000. Farther Finance Advisors LLC increased its stake in Brookfield Renewable by 180.3% during the third quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company’s stock valued at $58,000 after purchasing an additional 1,091 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Brookfield Renewable during the third quarter worth $81,000. 75.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Barclays lifted their target price on Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen raised Brookfield Renewable from a “sell” rating to a “hold” rating in a report on Saturday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Brookfield Renewable has a consensus rating of “Hold” and a consensus price target of $40.00.

Brookfield Renewable Stock Performance

Shares of BEPC opened at $40.19 on Friday. The firm has a fifty day moving average of $40.87 and a 200-day moving average of $39.13. The company has a market cap of $5.82 billion, a price-to-earnings ratio of -45.16 and a beta of 1.24. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.39 and a current ratio of 0.26. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $45.18.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a $0.392 dividend. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 27th. This represents a $1.57 annualized dividend and a yield of 3.9%. Brookfield Renewable’s payout ratio is currently -176.40%.

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.