Oak Thistle LLC Takes Position in Brookfield Renewable Corporation $BEPC

Key Points

• Oak Thistle LLC took a new position in Brookfield Renewable (BEPC) in Q4, buying 29,111 shares valued at about $1.116 million, and several other funds also initiated or increased stakes as institutional ownership stands at 75.12%.
• Brookfield Renewable increased its quarterly dividend to $0.392 (from $0.37), which annualizes to $1.57 and implies a yield of roughly 3.7%.
• Analysts are mixed with a consensus rating of "Hold" and an average target of $38.50; shares recently traded near $42.34 and have a 52-week range of $25.21–$45.18.

Oak Thistle LLC acquired a new stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,111 shares of the company's stock, valued at approximately $1,116,000.

Several other hedge funds also recently modified their holdings of the business. South Shore Capital Advisors bought a new stake in shares of Brookfield Renewable in the fourth quarter valued at approximately $233,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Brookfield Renewable in the fourth quarter valued at approximately $392,000. Sowell Financial Services LLC bought a new stake in shares of Brookfield Renewable in the fourth quarter valued at approximately $204,000. Princeton Global Asset Management LLC boosted its position in shares of Brookfield Renewable by 102.5% in the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company's stock valued at $31,000 after acquiring an additional 405 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Brookfield Renewable in the fourth quarter valued at approximately $27,000. 75.12% of the stock is owned by institutional investors.

Brookfield Renewable Stock Down 1.3%

Shares of NYSE BEPC opened at $42.34 on Friday. The business has a fifty day simple moving average of $41.47 and a 200 day simple moving average of $40.22. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.26 and a current ratio of 0.26. Brookfield Renewable Corporation has a one year low of $25.21 and a one year high of $45.18.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, February 27th were paid a $0.392 dividend. The ex-dividend date was Friday, February 27th. This is a positive change from Brookfield Renewable's previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.7%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Barclays increased their price objective on Brookfield Renewable from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Friday, January 23rd. Wall Street Zen cut Brookfield Renewable from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Finally, Morgan Stanley restated an "underweight" rating and issued a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $38.50.

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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