Oppenheimer Asset Management Inc. Grows Position in Brookfield Renewable Corporation $BEPC

Oppenheimer Asset Management Inc. raised its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 239,553 shares of the company’s stock after acquiring an additional 16,175 shares during the period. Oppenheimer Asset Management Inc. owned about 0.17% of Brookfield Renewable worth $8,245,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Brookfield Renewable in the second quarter valued at about $58,250,000. Canada Pension Plan Investment Board boosted its holdings in Brookfield Renewable by 49.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock worth $97,457,000 after purchasing an additional 985,442 shares during the last quarter. Baird Financial Group Inc. grew its position in Brookfield Renewable by 30.3% in the 2nd quarter. Baird Financial Group Inc. now owns 2,635,781 shares of the company’s stock worth $86,401,000 after purchasing an additional 613,513 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in Brookfield Renewable by 110.9% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,163,533 shares of the company’s stock valued at $38,141,000 after buying an additional 611,792 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Brookfield Renewable by 10.8% in the 2nd quarter. Legal & General Group Plc now owns 3,827,746 shares of the company’s stock valued at $125,179,000 after buying an additional 373,517 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BEPC shares. Barclays boosted their target price on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Morgan Stanley lifted their price target on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. JPMorgan Chase & Co. boosted their price objective on Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. 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’s stock. Based on data from MarketBeat.com, Brookfield Renewable has a consensus rating of “Hold” and a consensus price target of $40.00.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $42.89 on Wednesday. The company has a market capitalization of $6.21 billion, a P/E ratio of -48.19 and a beta of 1.22. The business has a fifty day simple moving average of $39.48 and a two-hundred day simple moving average of $38.14. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.39. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $45.10.

Brookfield Renewable Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a $0.392 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a yield of 3.7%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

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.