Diversify Wealth Management LLC Acquires New Stake in Brookfield Renewable Corporation $BEPC

Diversify Wealth Management LLC bought a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 38,913 shares of the company’s stock, valued at approximately $1,550,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Swiss Life Asset Management Ltd grew its position in shares of Brookfield Renewable by 1.5% in the 4th quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company’s stock valued at $656,000 after buying an additional 246 shares during the last quarter. Syon Capital LLC raised its position in shares of Brookfield Renewable by 2.7% during the fourth quarter. Syon Capital LLC now owns 9,351 shares of the company’s stock worth $359,000 after acquiring an additional 247 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Brookfield Renewable by 1.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company’s stock worth $721,000 after acquiring an additional 284 shares during the last quarter. Curio Wealth LLC raised its position in shares of Brookfield Renewable by 30.4% during the fourth quarter. Curio Wealth LLC now owns 1,244 shares of the company’s stock worth $49,000 after acquiring an additional 290 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in shares of Brookfield Renewable by 0.9% in the fourth quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock worth $1,429,000 after acquiring an additional 310 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Stock Up 1.2%

BEPC stock opened at $34.60 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a 50-day moving average price of $37.26 and a 200-day moving average price of $39.46. Brookfield Renewable Corporation has a 1-year low of $32.76 and a 1-year high of $45.18.

Brookfield Renewable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a dividend of $0.392 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.57 annualized dividend and a yield of 4.5%.

Analyst Upgrades and Downgrades

Several analysts recently commented on BEPC shares. Weiss Ratings cut Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. raised their price target on shares of Brookfield Renewable from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, 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 report on Monday, March 23rd. One 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $42.33.

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.