Cerity Partners LLC Makes New Investment in Brookfield Renewable Corporation (NYSE:BEPC)

Cerity Partners LLC bought a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,648 shares of the company's stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Brookfield Renewable by 2.9% in the fourth quarter. JPMorgan Chase & Co. now owns 588,262 shares of the company's stock valued at $16,271,000 after purchasing an additional 16,304 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Brookfield Renewable by 15.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company's stock valued at $863,000 after purchasing an additional 4,190 shares during the period. Vanguard Group Inc. increased its holdings in shares of Brookfield Renewable by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company's stock valued at $154,464,000 after purchasing an additional 106,880 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Brookfield Renewable by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company's stock valued at $13,533,000 after purchasing an additional 7,415 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Brookfield Renewable by 7.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 586,602 shares of the company's stock worth $16,247,000 after acquiring an additional 41,542 shares during the period. Hedge funds and other institutional investors own 75.12% of the company's stock.

Brookfield Renewable Price Performance

Shares of NYSE:BEPC traded down $2.33 on Friday, hitting $34.30. The company had a trading volume of 575,497 shares, compared to its average volume of 1,034,318. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $37.00. The business has a 50 day moving average of $32.87 and a 200 day moving average of $29.36. The company has a market cap of $4.97 billion, a PE ratio of -38.50 and a beta of 1.16.

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Friday, May 30th. Brookfield Renewable's dividend payout ratio is currently -167.42%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BEPC. Wells Fargo & Company dropped their price objective on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. upped their price objective on Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd.

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.