Brookfield Renewable Corporation $BEPC Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its Brookfield Renewable stake by 73.3% in the first quarter, purchasing 30,662 additional shares for a total holding of 72,473 shares valued at approximately $2.9 million. Institutional investors collectively own 75.12% of BEPC.
• Brookfield Renewable shares opened at $33.28, below their 50-day and 200-day moving averages, while the company announced a quarterly dividend of $0.392, equivalent to an annualized $1.57 payout and a 4.7% yield.
• Analyst sentiment remains cautious: coverage consists of two Hold and two Sell ratings, producing a consensus “Reduce” rating and a $39 average price target.

Cetera Investment Advisers lifted its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 73.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,473 shares of the company's stock after purchasing an additional 30,662 shares during the period. Cetera Investment Advisers' holdings in Brookfield Renewable were worth $2,887,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Global Advisors LLC purchased a new stake in Brookfield Renewable during the fourth quarter worth approximately $1,263,000. Vanguard Group Inc. raised its holdings in Brookfield Renewable by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 6,095,578 shares of the company's stock worth $233,817,000 after purchasing an additional 90,863 shares in the last quarter. Oak Thistle LLC acquired a new stake in Brookfield Renewable during the fourth quarter worth approximately $1,116,000. UBS Group AG lifted its position in shares of Brookfield Renewable by 225.2% during the 4th quarter. UBS Group AG now owns 1,802,162 shares of the company's stock worth $69,095,000 after buying an additional 1,247,953 shares during the last quarter. Finally, LBP AM SA lifted its position in shares of Brookfield Renewable by 29.8% during the 4th quarter. LBP AM SA now owns 169,441 shares of the company's stock worth $6,590,000 after buying an additional 38,860 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC opened at $33.28 on Friday. The firm has a fifty day moving average price of $35.93 and a 200 day moving average price of $38.81. The company has a current ratio of 0.40, a quick ratio of 0.33 and a debt-to-equity ratio of 2.10. Brookfield Renewable Corporation has a 1-year low of $31.82 and a 1-year high of $45.18.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, August 31st.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BEPC shares. Wall Street Zen raised shares of Brookfield Renewable from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Monday. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Brookfield Renewable in a report on Friday, July 31st. Finally, Barclays lifted their target price on Brookfield Renewable from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus 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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