Northwestern Mutual Wealth Management Co. Grows Position in Brookfield Renewable Corporation $BEPC

Northwestern Mutual Wealth Management Co. increased its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 693.7% in the fourth quarter, Holdings Channel reports. The fund owned 175,644 shares of the company’s stock after purchasing an additional 153,513 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Brookfield Renewable were worth $6,734,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Torren Management LLC purchased a new stake in Brookfield Renewable in the fourth quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Brookfield Renewable in the fourth quarter worth about $27,000. Princeton Global Asset Management LLC lifted its stake in Brookfield Renewable by 102.5% in the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock worth $31,000 after acquiring an additional 405 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Brookfield Renewable by 191.5% during the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after buying an additional 655 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Brookfield Renewable by 88.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after buying an additional 543 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Stock Down 0.3%

BEPC stock opened at $37.52 on Friday. The firm has a 50-day simple moving average of $39.52 and a two-hundred day simple moving average of $40.37. Brookfield Renewable Corporation has a one year low of $27.79 and a one year high of $45.18. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33.

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 annualized dividend and a dividend yield of 4.2%.

Wall Street Analysts Forecast Growth

BEPC has been the subject of several analyst reports. Morgan Stanley reissued an “underweight” rating and set a $42.00 price target (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. JPMorgan Chase & Co. increased their price target on shares of Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Weiss Ratings lowered shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Barclays increased their price target on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Finally, Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $42.33.

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.