LPL Financial LLC Increases Holdings in Brookfield Renewable Corporation $BEPC

Key Points

• LPL Financial LLC increased its stake in Brookfield Renewable Corporation by 91.9% during the first quarter, holding a total of 64,108 shares valued at approximately $1.79 million.
• The company's recent quarterly dividend of $0.373, equating to an annual yield of 4.5%, will be issued to investors of record by the end of the month.
• Analyst ratings show a consensus rating of "Moderate Buy", with a target price averaging $33.67 per share, reflecting mixed outlooks from different financial institutions.

LPL Financial LLC lifted its stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 91.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,108 shares of the company's stock after buying an additional 30,704 shares during the quarter. LPL Financial LLC's holdings in Brookfield Renewable were worth $1,790,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BEPC. New England Capital Financial Advisors LLC bought a new stake in Brookfield Renewable during the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Brookfield Renewable by 43.0% in 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. Dunhill Financial LLC purchased a new position in shares of Brookfield Renewable during the 4th quarter valued at $41,000. Measured Risk Portfolios Inc. bought a new position in Brookfield Renewable in the 4th quarter worth $52,000. Finally, Tsfg LLC increased its stake in Brookfield Renewable by 97.9% in the 1st quarter. Tsfg LLC now owns 2,050 shares of the company's stock worth $57,000 after buying an additional 1,014 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Price Performance

Shares of BEPC traded up $0.7940 during midday trading on Friday, hitting $34.1840. 397,488 shares of the company traded hands, compared to its average volume of 814,291. The firm has a 50 day moving average of $33.98 and a 200-day moving average of $30.27. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $37.00. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of -38.41 and a beta of 1.17. 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 Announces Dividend

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

Wall Street Analyst Weigh In

BEPC has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company lowered their price objective on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.67.

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.