TD Waterhouse Canada Inc. Sells 193,659 Shares of Brookfield Renewable Corporation $BEPC

TD Waterhouse Canada Inc. cut its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 13.4% during the third quarter, HoldingsChannel.com reports. The fund owned 1,250,512 shares of the company’s stock after selling 193,659 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Brookfield Renewable were worth $44,269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BEPC. Truist Financial Corp grew its stake in Brookfield Renewable by 6.7% in the third quarter. Truist Financial Corp now owns 8,783 shares of the company’s stock worth $302,000 after purchasing an additional 549 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Brookfield Renewable by 5.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,964 shares of the company’s stock worth $791,000 after buying an additional 1,168 shares in the last quarter. LBP AM SA bought a new position in shares of Brookfield Renewable during the 3rd quarter worth $4,495,000. PFG Investments LLC increased its stake in shares of Brookfield Renewable by 2.1% during the third quarter. PFG Investments LLC now owns 214,727 shares of the company’s stock valued at $7,391,000 after buying an additional 4,329 shares during the period. Finally, Westfuller Advisors LLC bought a new stake in shares of Brookfield Renewable in the third quarter valued at about $198,000. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Up 0.9%

Shares of BEPC stock opened at $40.64 on Thursday. The stock’s fifty day moving average price is $39.40 and its 200 day moving average price is $37.76. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.39 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. The company has a market cap of $5.89 billion, a price-to-earnings ratio of -45.66 and a beta of 1.23.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were paid a $0.373 dividend. The ex-dividend date was Friday, November 28th. This represents a $1.49 dividend on an annualized basis and a yield of 3.7%. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Morgan Stanley increased their price objective on shares of Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Barclays upped their target price on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Finally, Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Brookfield Renewable presently has an average rating of “Hold” and a consensus 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.