Harvest Portfolios Group Inc. Decreases Stake in Brookfield Renewable Corporation $BEPC

Harvest Portfolios Group Inc. lessened its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 75.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 92,471 shares of the company’s stock after selling 281,801 shares during the quarter. Harvest Portfolios Group Inc. owned 0.06% of Brookfield Renewable worth $3,547,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BEPC. Torren Management LLC acquired a new stake in shares of Brookfield Renewable during the 4th quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Brookfield Renewable during the 4th quarter worth about $27,000. Princeton Global Asset Management LLC raised its position in shares of Brookfield Renewable by 102.5% during the 4th quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock worth $31,000 after acquiring an additional 405 shares in the last quarter. Smartleaf Asset Management LLC raised its position 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 worth $35,000 after acquiring an additional 655 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of 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 acquiring an additional 543 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings lowered Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Morgan Stanley reissued 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. Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Barclays raised their target price on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. raised their target price on Brookfield Renewable from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $42.33.

Brookfield Renewable Trading Up 2.1%

BEPC opened at $36.90 on Thursday. Brookfield Renewable Corporation has a 52 week low of $27.72 and a 52 week high of $45.18. The business’s 50 day moving average is $39.67 and its two-hundred day moving average is $40.42. 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 Announces Dividend

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 given 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 4.2%.

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.