Oak Thistle LLC Makes New $1.12 Million Investment in Brookfield Renewable Corporation $BEPC

Oak Thistle LLC acquired a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,111 shares of the company’s stock, valued at approximately $1,116,000.

Other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP raised its stake in Brookfield Renewable by 728.3% during the third quarter. Quantbot Technologies LP now owns 130,474 shares of the company’s stock worth $4,491,000 after acquiring an additional 114,722 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Brookfield Renewable during the third quarter worth $1,342,000. Vanguard Group Inc. raised its stake in Brookfield Renewable by 2.6% during the third quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock worth $206,717,000 after acquiring an additional 151,186 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Brookfield Renewable by 81.0% during the third quarter. JPMorgan Chase & Co. now owns 228,888 shares of the company’s stock worth $7,878,000 after acquiring an additional 102,406 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Brookfield Renewable by 9.6% during the third quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company’s stock worth $18,348,000 after acquiring an additional 46,796 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Trading Down 1.3%

Shares of BEPC stock opened at $42.34 on Friday. The stock’s fifty day moving average is $41.47 and its 200-day moving average is $40.22. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.26 and a current ratio of 0.26. Brookfield Renewable Corporation has a 52 week low of $25.21 and a 52 week high of $45.18.

Brookfield Renewable Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were issued a dividend of $0.392 per share. The ex-dividend date was Friday, February 27th. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a dividend yield of 3.7%.

Analyst Ratings Changes

Several research analysts have issued reports on BEPC shares. Barclays increased their price objective on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Morgan Stanley reiterated an “underweight” rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Finally, Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.50.

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.