Fox Run Management L.L.C. Invests $916,000 in Brookfield Renewable Corporation $BEPC

Fox Run Management L.L.C. bought a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 26,623 shares of the company’s stock, valued at approximately $916,000.

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Barclays increased their price objective on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Morgan Stanley lifted their target price on shares of 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.00.

Brookfield Renewable Stock Up 0.6%

NYSE BEPC opened at $44.02 on Friday. The business has a fifty day moving average price of $40.55 and a 200 day moving average price of $38.79. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 0.13. The company has a market cap of $6.38 billion, a P/E ratio of -49.46 and a beta of 1.22. Brookfield Renewable Corporation has a one year low of $23.73 and a one year high of $45.18.

Brookfield Renewable Increases Dividend

The firm 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 dividend of $0.392 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 annualized dividend and a yield of 3.6%. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio is currently -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.