A. D. Beadell Investment Counsel Inc. Purchases Shares of 90,260 Brookfield Renewable Corporation $BEPC

Key Points

• A. D. Beadell Investment Counsel acquired 90,260 Brookfield Renewable shares worth approximately $3.35 million, making BEPC its 15th-largest portfolio holding and representing about 0.06% of the company.
• Brookfield Renewable shares opened at $32.22, near their 12-month low of $31.72, while institutional investors collectively own 75.12% of the stock.
• The company declared a quarterly dividend of $0.392, equivalent to $1.57 annually and a 4.9% yield. Analysts maintain a cautious outlook, with a consensus “Reduce” rating and an average price target of $39.00.

A. D. Beadell Investment Counsel Inc. acquired a new stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 90,260 shares of the company's stock, valued at approximately $3,350,000. Brookfield Renewable accounts for approximately 2.1% of A. D. Beadell Investment Counsel Inc.'s investment portfolio, making the stock its 15th largest position. A. D. Beadell Investment Counsel Inc. owned approximately 0.06% of Brookfield Renewable at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Motiv8 Investments LLC purchased a new position in Brookfield Renewable during the 4th quarter worth approximately $25,000. Allied Private Wealth LLC purchased a new stake in shares of Brookfield Renewable in the 2nd quarter valued at $27,000. SHP Wealth Management purchased a new stake in shares of Brookfield Renewable in the 4th quarter valued at $30,000. NewEdge Advisors LLC acquired a new stake in shares of Brookfield Renewable in the first quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Brookfield Renewable in the second quarter worth $33,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC opened at $32.22 on Tuesday. Brookfield Renewable Corporation has a 12 month low of $31.72 and a 12 month high of $45.18. The firm's 50 day simple moving average is $34.52 and its 200-day simple moving average is $37.99. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.10.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.392 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.9%.

Analyst Ratings Changes

BEPC has been the subject of a number of research reports. Wall Street Zen downgraded shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a research report on Sunday, August 9th. JPMorgan Chase & Co. cut their price target on Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Finally, Barclays boosted their price objective on Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $39.00.

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.

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