Eagle Global Advisors LLC Takes $1.26 Million Position in Brookfield Renewable Corporation $BEPC

Key Points

• Eagle Global Advisors LLC purchased a new Q4 stake of 32,940 shares of Brookfield Renewable (NYSE: BEPC), valued at about $1.26 million.
• Analyst opinions are mixed: MarketBeat shows an average rating of "Hold" with a $39.75 target, while individual calls range from sell (Wall Street Zen, Weiss) to overweight (JPMorgan) and underweight (Morgan Stanley).
• Brookfield increased its quarterly dividend to $0.392 (annualized $1.57), implying a yield of about 3.9%.

Eagle Global Advisors LLC purchased a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 32,940 shares of the company's stock, valued at approximately $1,263,000.

Other large investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Brookfield Renewable in the fourth quarter valued at $27,000. Princeton Global Asset Management LLC increased its position in shares of Brookfield Renewable by 102.5% during the 4th quarter. Princeton Global Asset Management LLC now owns 800 shares of the company's stock worth $31,000 after purchasing an additional 405 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Brookfield Renewable by 191.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company's stock worth $35,000 after purchasing an additional 655 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Brookfield Renewable by 88.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company's stock valued at $38,000 after buying an additional 543 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Brookfield Renewable by 180.3% in the third quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company's stock valued at $58,000 after buying an additional 1,091 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley reaffirmed an "underweight" rating and set a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Wall Street Zen lowered shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Brookfield Renewable in a report on Monday, December 29th. Barclays upped their price target on Brookfield Renewable from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable from $48.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $39.75.

Brookfield Renewable Trading Up 2.9%

NYSE BEPC opened at $39.97 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a 50 day simple moving average of $41.47 and a 200-day simple moving average of $40.72. Brookfield Renewable Corporation has a one year low of $27.27 and a one year high of $45.18.

Brookfield Renewable Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were paid a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 3.9%. This is a positive change from Brookfield Renewable's previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 27th.

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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