Candriam S.C.A. Boosts Stock Holdings in Brookfield Renewable Corporation $BEPC

Candriam S.C.A. lifted its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 522.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,330 shares of the company’s stock after buying an additional 75,822 shares during the period. Candriam S.C.A.’s holdings in Brookfield Renewable were worth $3,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BEPC. JPMorgan Chase & Co. raised its position in Brookfield Renewable by 81.0% during the third quarter. JPMorgan Chase & Co. now owns 228,888 shares of the company’s stock worth $7,878,000 after acquiring an additional 102,406 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Brookfield Renewable by 502.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 78,837 shares of the company’s stock valued at $3,023,000 after buying an additional 65,757 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Brookfield Renewable during the 3rd quarter valued at $98,293,000. Investment Research Partners LLC purchased a new position in Brookfield Renewable during the third quarter worth $1,227,000. Finally, Eagle Global Advisors LLC purchased a new position in Brookfield Renewable during the fourth quarter worth $1,263,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BEPC shares. Weiss Ratings downgraded Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Morgan Stanley reiterated an “underweight” rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Brookfield Renewable presently has a consensus rating of “Reduce” and an average target price of $42.33.

Brookfield Renewable Price Performance

BEPC stock opened at $34.21 on Tuesday. 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 Corporation has a one year low of $32.73 and a one year high of $45.18. The company has a 50 day moving average price of $37.30 and a two-hundred day moving average price of $39.49.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a dividend of $0.392 per share. The ex-dividend date was Friday, May 29th. This represents a $1.57 annualized dividend and a dividend yield of 4.6%.

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.