Candriam S.C.A. Grows Stock Holdings in Brookfield Renewable Corporation $BEPC

Key Points

• Candriam S.C.A. boosted its stake in Brookfield Renewable Corporation by 522.6% in the first quarter, buying an additional 75,822 shares to bring its total to 90,330 shares worth about $3.59 million.
• Institutional ownership remains high, with hedge funds and other large investors holding 75.12% of the company’s stock.
• Analyst sentiment is mixed to cautious: the stock has an average rating of "Reduce" with a consensus target price of $42.33, while shares recently traded at $34.21 and the company pays a quarterly dividend yielding 4.6%.

Candriam S.C.A. increased its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 522.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,330 shares of the company's stock after purchasing an additional 75,822 shares during the period. Candriam S.C.A. owned 0.06% of Brookfield Renewable worth $3,588,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Swiss Life Asset Management Ltd lifted its holdings in Brookfield Renewable by 1.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company's stock worth $656,000 after buying an additional 246 shares during the last quarter. Syon Capital LLC increased its holdings in shares of Brookfield Renewable by 2.7% in the 4th quarter. Syon Capital LLC now owns 9,351 shares of the company's stock valued at $359,000 after acquiring an additional 247 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Brookfield Renewable by 1.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company's stock valued at $721,000 after acquiring an additional 284 shares during the last quarter. Curio Wealth LLC increased its holdings in shares of Brookfield Renewable by 30.4% in the 4th quarter. Curio Wealth LLC now owns 1,244 shares of the company's stock valued at $49,000 after acquiring an additional 290 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of Brookfield Renewable by 0.9% during the 4th quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company's stock worth $1,429,000 after acquiring an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen downgraded Brookfield Renewable from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Morgan Stanley reissued an "underweight" rating and issued a $42.00 price target (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. JPMorgan Chase & Co. upped their price objective on shares of Brookfield Renewable from $48.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Finally, Weiss Ratings lowered Brookfield Renewable from a "sell (d)" rating to a "sell (e+)" rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Brookfield Renewable has an average rating of "Reduce" and an average target price of $42.33.

Brookfield Renewable Stock Down 2.5%

Shares of Brookfield Renewable stock opened at $34.21 on Tuesday. The firm's fifty day simple moving average is $37.30 and its 200-day simple moving average is $39.49. Brookfield Renewable Corporation has a 12 month low of $32.73 and a 12 month high of $45.18. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.81.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were paid a $0.392 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.6%.

Brookfield Renewable Company Profile

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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