Bank of Montreal Can Has $30.28 Million Stock Position in Brookfield Renewable Corporation $BEPC

Bank of Montreal Can cut its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 2.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 923,375 shares of the company’s stock after selling 23,391 shares during the quarter. Bank of Montreal Can’s holdings in Brookfield Renewable were worth $30,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BEPC. MAI Capital Management raised its stake in Brookfield Renewable by 59.0% during the first quarter. MAI Capital Management now owns 951 shares of the company’s stock worth $27,000 after acquiring an additional 353 shares in the last quarter. Gilbert & Cook Inc. grew its holdings in shares of Brookfield Renewable by 4.3% during the 2nd quarter. Gilbert & Cook Inc. now owns 8,594 shares of the company’s stock valued at $282,000 after purchasing an additional 357 shares during the last quarter. CWM LLC grew its holdings in shares of Brookfield Renewable by 14.6% during the 1st quarter. CWM LLC now owns 4,058 shares of the company’s stock valued at $113,000 after purchasing an additional 516 shares during the last quarter. Griffin Asset Management Inc. increased its position in Brookfield Renewable by 3.5% during the 2nd quarter. Griffin Asset Management Inc. now owns 17,048 shares of the company’s stock worth $559,000 after purchasing an additional 577 shares in the last quarter. Finally, SOA Wealth Advisors LLC. lifted its stake in Brookfield Renewable by 8.8% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 8,709 shares of the company’s stock valued at $285,000 after purchasing an additional 701 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

Analyst Upgrades and Downgrades

BEPC has been the topic of a number of research analyst reports. Barclays raised their target price on shares of Brookfield Renewable from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Brookfield Renewable in a report on Wednesday, October 8th. Morgan Stanley boosted their price objective on Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. increased their target price on Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Three 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 MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.50.

Brookfield Renewable Trading Up 3.4%

Shares of NYSE BEPC opened at $44.36 on Friday. The firm has a 50 day moving average price of $37.31 and a two-hundred day moving average price of $33.82. The stock has a market cap of $6.43 billion, a P/E ratio of -49.84 and a beta of 1.29. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $44.71. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -167.42%.

Brookfield Renewable Profile

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.