Norges Bank Buys Shares of 1,776,754 Brookfield Renewable Corporation $BEPC

Norges Bank bought a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,776,754 shares of the company’s stock, valued at approximately $68,132,000. Norges Bank owned 1.23% of Brookfield Renewable as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in Brookfield Renewable during the 4th quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Brookfield Renewable during the 4th quarter valued at $27,000. Princeton Global Asset Management LLC raised its stake in Brookfield Renewable by 102.5% during the 4th quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock valued at $31,000 after purchasing an additional 405 shares during the period. Smartleaf Asset Management LLC raised its stake in Brookfield Renewable by 191.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after purchasing an additional 655 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Brookfield Renewable by 88.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock worth $38,000 after acquiring an additional 543 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Price Performance

Brookfield Renewable stock opened at $38.76 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33. Brookfield Renewable Corporation has a one year low of $29.37 and a one year high of $45.18. The company’s fifty day moving average price is $39.36 and its two-hundred day moving average price is $40.07.

Brookfield Renewable Dividend Announcement

The firm also recently announced 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. This represents a $1.57 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, May 29th.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BEPC. Weiss Ratings downgraded shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $42.00 price target (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Brookfield Renewable currently has an average rating of “Reduce” and a consensus price target of $42.33.

About Brookfield Renewable

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.