Geode Capital Management LLC Buys 83,974 Shares of Brookfield Renewable Corporation $BEPC

Geode Capital Management LLC boosted its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 4.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,086,768 shares of the company’s stock after buying an additional 83,974 shares during the quarter. Geode Capital Management LLC’s holdings in Brookfield Renewable were worth $79,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its position in Brookfield Renewable by 728.3% during the third quarter. Quantbot Technologies LP now owns 130,474 shares of the company’s stock valued at $4,491,000 after buying an additional 114,722 shares during the period. Neo Ivy Capital Management bought a new stake in Brookfield Renewable during the third quarter valued at approximately $1,342,000. Vanguard Group Inc. grew its position 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 period. JPMorgan Chase & Co. grew 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 valued at $7,878,000 after buying an additional 102,406 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Brookfield Renewable by 9.6% during the third quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company’s stock valued at $18,348,000 after buying an additional 46,796 shares during the period. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC opened at $38.76 on Monday. 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 1-year low of $29.37 and a 1-year high of $45.18. The firm’s 50 day simple moving average is $39.36 and its two-hundred day simple moving average is $40.05.

Brookfield Renewable Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.392 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.57 annualized dividend and a yield of 4.0%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price 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. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Finally, Morgan Stanley restated an “underweight” rating and set a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $42.33.

Brookfield Renewable 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.