46,655 Shares in Brookfield Renewable Corporation $BEPC Purchased by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC acquired 46,655 shares of Brookfield Renewable Corporation (NYSE:BEPC), valued at approximately $1.3 million, in its recent quarter.
• Brookfield Renewable declared a quarterly dividend of $0.373, reflecting an annualized yield of 4.4% and a payout ratio of -167.42%.
• Analysts have a consensus rating of "Moderate Buy" on the stock, with price targets ranging from $32 to $39, following various upward revisions by firms like JPMorgan and Morgan Stanley.

Redwood Investment Management LLC bought a new position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 46,655 shares of the company's stock, valued at approximately $1,303,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BEPC. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Brookfield Renewable by 43.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock worth $35,000 after purchasing an additional 374 shares in the last quarter. Comprehensive Money Management Services LLC lifted its position in Brookfield Renewable by 3.3% during the first quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company's stock valued at $394,000 after purchasing an additional 445 shares during the last quarter. CWM LLC grew its stake in Brookfield Renewable by 14.6% in the 1st quarter. CWM LLC now owns 4,058 shares of the company's stock worth $113,000 after buying an additional 516 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Brookfield Renewable by 0.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 71,292 shares of the company's stock worth $1,986,000 after buying an additional 579 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Brookfield Renewable by 0.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 198,881 shares of the company's stock worth $5,553,000 after buying an additional 916 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company's stock.

Brookfield Renewable Stock Up 0.6%

Shares of NYSE:BEPC opened at $34.22 on Thursday. The stock has a market capitalization of $4.96 billion, a P/E ratio of -38.45 and a beta of 1.17. The stock's 50-day moving average price is $34.10 and its 200-day moving average price is $30.41. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. Brookfield Renewable Corporation has a 12-month low of $23.73 and a 12-month high of $37.00.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable's payout ratio is -167.42%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Morgan Stanley lifted their price target on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Wells Fargo & Company cut their price objective on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

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.

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