Harvest Portfolios Group Inc. Grows Stock Holdings in Brookfield Renewable Corporation $BEPC

Harvest Portfolios Group Inc. grew its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 347,548 shares of the company’s stock after purchasing an additional 18,420 shares during the quarter. Harvest Portfolios Group Inc. owned approximately 0.24% of Brookfield Renewable worth $11,391,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Brookfield Renewable by 2.4% in the first quarter. Vanguard Group Inc. now owns 5,717,397 shares of the company’s stock valued at $159,596,000 after purchasing an additional 135,776 shares during the last quarter. Parnassus Investments LLC lifted its holdings in shares of Brookfield Renewable by 24.2% during the 1st quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company’s stock worth $135,574,000 after acquiring an additional 945,297 shares during the period. Robeco Schweiz AG boosted its position in shares of Brookfield Renewable by 1.7% in the first quarter. Robeco Schweiz AG now owns 2,048,008 shares of the company’s stock worth $57,180,000 after acquiring an additional 35,008 shares during the last quarter. Baird Financial Group Inc. grew its holdings in Brookfield Renewable by 4.7% in the first quarter. Baird Financial Group Inc. now owns 2,022,268 shares of the company’s stock valued at $56,462,000 after purchasing an additional 91,367 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Brookfield Renewable by 177.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,987,332 shares of the company’s stock valued at $55,486,000 after purchasing an additional 1,270,946 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BEPC. Weiss Ratings reissued a “sell (d)” rating on shares of Brookfield Renewable in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Morgan Stanley increased their target price on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Finally, Barclays lifted their price target 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. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable currently has an average rating of “Hold” and an average target price of $37.50.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC opened at $44.36 on Friday. The business’s 50-day simple moving average is $37.31 and its 200 day simple moving average is $33.82. The company has a market cap of $6.43 billion, a P/E ratio of -49.84 and a beta of 1.29. 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 Corporation has a one year low of $23.73 and a one year high of $44.71.

Brookfield Renewable Dividend Announcement

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

About Brookfield Renewable

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.