Alpine Woods Capital Investors LLC Has $1.06 Million Position in Brookfield Renewable Corporation $BEPC

Key Points

• Alpine Woods Capital Investors LLC increased its position in Brookfield Renewable Corporation by 62.8%, owning 32,375 shares valued at about $1.06 million at the end of Q2.
• Brookfield Renewable recently announced a $0.373 quarterly dividend, translating to a 3.8% yield, with a payout ratio of -167.42%.
• Recent analyst reports show a mix of ratings with JPMorgan Chase and Morgan Stanley raising their target prices to $41.00 and $39.00 respectively, while the stock holds an average rating of "Hold".

Alpine Woods Capital Investors LLC raised its position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 62.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,375 shares of the company's stock after acquiring an additional 12,493 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Brookfield Renewable were worth $1,061,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Brookfield Renewable by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company's stock worth $13,533,000 after buying an additional 7,415 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Brookfield Renewable by 23.2% during the 1st quarter. Raymond James Financial Inc. now owns 163,852 shares of the company's stock worth $4,575,000 after buying an additional 30,840 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Brookfield Renewable by 91.9% during the 1st quarter. LPL Financial LLC now owns 64,108 shares of the company's stock worth $1,790,000 after buying an additional 30,704 shares during the last quarter. Foresight Group Ltd Liability Partnership acquired a new stake in shares of Brookfield Renewable during the 1st quarter worth about $6,338,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Brookfield Renewable during the 1st quarter worth about $532,000. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $39.58 on Tuesday. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $39.63. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of -44.47 and a beta of 1.21. The firm's 50-day simple moving average is $34.51 and its 200 day simple moving average is $32.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27.

Brookfield Renewable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were issued a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Renewable's dividend payout ratio (DPR) is currently -167.42%.

Analyst Ratings Changes

BEPC has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Brookfield Renewable from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Morgan Stanley raised their target price on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Brookfield Renewable in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $35.75.

About Brookfield Renewable

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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