Advisors Capital Management LLC Increases Stock Position in Brookfield Renewable Corporation $BEPC

Advisors Capital Management LLC grew its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,788,239 shares of the company’s stock after purchasing an additional 70,921 shares during the period. Advisors Capital Management LLC owned approximately 1.23% of Brookfield Renewable worth $61,551,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Brookfield Renewable by 2.6% during the third quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock valued at $206,717,000 after buying an additional 151,186 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Brookfield Renewable by 81.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 228,888 shares of the company’s stock valued at $7,878,000 after acquiring an additional 102,406 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Brookfield Renewable by 11.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 20,279 shares of the company’s stock valued at $698,000 after acquiring an additional 2,090 shares during the last quarter. New South Capital Management Inc. grew its holdings in shares of Brookfield Renewable by 1.8% in the third quarter. New South Capital Management Inc. now owns 621,580 shares of the company’s stock valued at $21,395,000 after purchasing an additional 10,701 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Brookfield Renewable in the third quarter worth $81,000. 75.12% of the stock is owned by institutional investors.

Brookfield Renewable Stock Performance

Brookfield Renewable stock opened at $44.40 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.39. The firm has a market capitalization of $6.43 billion, a P/E ratio of -49.89 and a beta of 1.22. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $45.18. The company’s 50-day moving average is $39.89 and its 200 day moving average is $38.41.

Brookfield Renewable Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a dividend of $0.392 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio is -167.42%.

Analyst Ratings Changes

BEPC has been the subject of several research reports. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Barclays lifted their price target on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, Morgan Stanley upped their price objective on Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.00.

Brookfield Renewable Company Profile

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.