TD Asset Management Inc Boosts Stake in Brookfield Renewable Corporation $BEPC

TD Asset Management Inc increased its position in Brookfield Renewable Corporation (NYSE:BEPC) by 4.5% in the third quarter, HoldingsChannel reports. The firm owned 412,036 shares of the company’s stock after purchasing an additional 17,823 shares during the quarter. TD Asset Management Inc’s holdings in Brookfield Renewable were worth $14,184,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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. Parnassus Investments LLC lifted its position in Brookfield Renewable by 1.4% in the 3rd quarter. Parnassus Investments LLC now owns 5,337,630 shares of the company’s stock valued at $183,721,000 after acquiring an additional 74,543 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Brookfield Renewable by 2.7% during the third quarter. Principal Financial Group Inc. now owns 4,646,524 shares of the company’s stock valued at $159,935,000 after buying an additional 121,328 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Brookfield Renewable by 10.8% during the second quarter. Legal & General Group Plc now owns 3,827,746 shares of the company’s stock valued at $125,179,000 after purchasing an additional 373,517 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Brookfield Renewable by 49.6% during 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 buying an additional 985,442 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

BEPC opened at $42.71 on Monday. Brookfield Renewable Corporation has a fifty-two week low of $23.73 and a fifty-two 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 fifty day moving average of $40.64 and a 200 day moving average of $38.93. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of -47.99 and a beta of 1.24.

Brookfield Renewable Increases Dividend

The company 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 dividend of $0.392 per share. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 annualized dividend and a dividend yield of 3.7%. Brookfield Renewable’s payout ratio is currently -176.40%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BEPC shares. Morgan Stanley increased their target price on Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Finally, Barclays raised 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. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Brookfield Renewable presently has an average rating of “Hold” and a consensus target price of $40.00.

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.