Harvest Portfolios Group Inc. Has $9.19 Million Holdings in Brookfield Renewable Corporation $BEPC

Key Points

• Harvest Portfolios Group Inc. increased its stake in Brookfield Renewable Corporation by 5.1%, acquiring an additional 16,021 shares during the first quarter, bringing its total holdings to 329,128 shares valued at approximately $9.18 million.
• Brookfield Renewable announced a quarterly dividend of $0.373, with a payout ratio of -167.42%, indicating that the company is currently paying out more in dividends than its earnings.
• Analysts have a mixed outlook on Brookfield Renewable, with a consensus rating of "Moderate Buy" and a target price averaging around $33.67, reflecting some optimism in its growth potential.

Harvest Portfolios Group Inc. boosted its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,128 shares of the company's stock after purchasing an additional 16,021 shares during the quarter. Harvest Portfolios Group Inc. owned approximately 0.23% of Brookfield Renewable worth $9,187,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Brookfield Renewable by 43.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock valued at $35,000 after acquiring an additional 374 shares during the period. Comprehensive Money Management Services LLC boosted its holdings in shares of Brookfield Renewable by 3.3% during the first quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company's stock valued at $394,000 after acquiring an additional 445 shares during the period. CWM LLC boosted its holdings in shares of Brookfield Renewable by 14.6% during the first quarter. CWM LLC now owns 4,058 shares of the company's stock valued at $113,000 after acquiring an additional 516 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Brookfield Renewable by 0.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 71,292 shares of the company's stock valued at $1,986,000 after acquiring an additional 579 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Brookfield Renewable by 0.5% during the first quarter. Oppenheimer & Co. Inc. now owns 198,881 shares of the company's stock valued at $5,553,000 after acquiring an additional 916 shares during the period. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Price Performance

Brookfield Renewable stock traded down $0.72 during midday trading on Friday, hitting $33.70. The company's stock had a trading volume of 989,666 shares, compared to its average volume of 746,798. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The stock's 50-day moving average price is $34.20 and its 200-day moving average price is $30.51. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $37.00. The company has a market capitalization of $4.88 billion, a PE ratio of -37.87 and a beta of 1.17.

Brookfield Renewable Dividend Announcement

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

Wall Street Analysts Forecast Growth

BEPC has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Morgan Stanley lifted their price objective on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

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.