Maryland State Retirement & Pension System Takes $210,000 Position in Brookfield Renewable Corporation $BEPC

Key Points

• The Maryland State Retirement & Pension System invested approximately $210,000 to acquire 6,416 shares of Brookfield Renewable Corporation in the second quarter.
• Several institutional investors, including Belpointe Asset Management and Abundance Wealth Counselors, increased their stakes in Brookfield Renewable, with hedge funds owning 75.12% of the company's stock.
• JPMorgan and Morgan Stanley both issued positive ratings and increased price targets for Brookfield Renewable, with a consensus price target of $35.75 from analysts.

Maryland State Retirement & Pension System acquired a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,416 shares of the company's stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Belpointe Asset Management LLC lifted its holdings in shares of Brookfield Renewable by 14.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 10,413 shares of the company's stock valued at $341,000 after purchasing an additional 1,311 shares during the last quarter. Abundance Wealth Counselors lifted its holdings in shares of Brookfield Renewable by 2.6% during the 2nd quarter. Abundance Wealth Counselors now owns 58,229 shares of the company's stock valued at $1,909,000 after purchasing an additional 1,463 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Brookfield Renewable by 2.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 80,179 shares of the company's stock valued at $2,628,000 after purchasing an additional 1,620 shares during the last quarter. SOA Wealth Advisors LLC. lifted its holdings in shares of Brookfield Renewable by 8.8% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 8,709 shares of the company's stock valued at $285,000 after purchasing an additional 701 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in shares of Brookfield Renewable during the 2nd quarter valued at $15,116,000. Hedge funds and other institutional investors own 75.12% of the company's stock.

Wall Street Analyst Weigh In

BEPC has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Brookfield Renewable from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Morgan Stanley raised their target price on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Brookfield Renewable in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $35.75.

Brookfield Renewable Stock Performance

NYSE BEPC opened at $39.33 on Wednesday. The stock has a 50-day simple moving average of $34.61 and a two-hundred day simple moving average of $32.06. The firm has a market capitalization of $5.70 billion, a P/E ratio of -44.19 and a beta of 1.21. Brookfield Renewable Corporation has a fifty-two week low of $23.73 and a fifty-two week high of $39.74. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were paid a dividend of $0.373 per share. The ex-dividend date was Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.8%. Brookfield Renewable's dividend payout ratio (DPR) is presently -167.42%.

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.

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