Harvest Portfolios Group Inc. Purchases 26,724 Shares of Brookfield Renewable Corporation $BEPC

Harvest Portfolios Group Inc. increased its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 374,272 shares of the company’s stock after acquiring an additional 26,724 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Brookfield Renewable were worth $12,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its holdings in shares of Brookfield Renewable by 191.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after purchasing an additional 655 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Brookfield Renewable by 88.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock worth $38,000 after purchasing an additional 543 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in Brookfield Renewable during the 2nd quarter worth approximately $42,000. Farther Finance Advisors LLC lifted its stake in Brookfield Renewable by 180.3% in the third quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company’s stock valued at $58,000 after buying an additional 1,091 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Brookfield Renewable in the third quarter valued at approximately $81,000. 75.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Morgan Stanley upped their price objective on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Finally, Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.00.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $42.71 on Friday. The stock’s 50-day simple moving average is $40.64 and its 200 day simple moving average is $38.86. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $45.18. 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 $6.19 billion, a P/E ratio of -47.99 and a beta of 1.22.

Brookfield Renewable Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, February 27th. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s payout ratio is currently -167.42%.

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.