Pacifica Partners Inc. Purchases 38,920 Shares of Brookfield Renewable Corporation $BEPC

Key Points

• Pacifica Partners significantly increased its Brookfield Renewable position by purchasing 38,920 shares in the third quarter, bringing its total holdings to 39,420 shares valued at approximately $1.12 million.
• Brookfield Renewable shares opened at $29.39, near their 52-week low of $27.57 and below both their 50-day and 200-day moving averages. Institutional investors collectively own 75.12% of the company.
• The company pays a quarterly dividend of $0.392 per share, equating to an annualized dividend of $1.57 and a 5.3% yield. Analysts have a generally negative outlook, with an average “Reduce” rating and a consensus price target of $39.

Pacifica Partners Inc. raised its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 7,784.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,420 shares of the company's stock after acquiring an additional 38,920 shares during the quarter. Pacifica Partners Inc.'s holdings in Brookfield Renewable were worth $1,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Brookfield Renewable by 23.8% during the third quarter. GAMMA Investing LLC now owns 3,194 shares of the company's stock worth $90,000 after purchasing an additional 613 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Brookfield Renewable by 53.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 23,445 shares of the company's stock valued at $662,000 after purchasing an additional 8,160 shares in the last quarter. Plan A Wealth LLC boosted its stake in Brookfield Renewable by 2.9% during the 3rd quarter. Plan A Wealth LLC now owns 18,757 shares of the company's stock worth $529,000 after purchasing an additional 524 shares during the last quarter. CX Institutional boosted its stake in Brookfield Renewable by 1,470.1% during the 3rd quarter. CX Institutional now owns 2,622 shares of the company's stock worth $74,000 after purchasing an additional 2,455 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Brookfield Renewable by 416.0% during the third quarter. Versant Capital Management Inc now owns 1,517 shares of the company's stock worth $43,000 after buying an additional 1,223 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company's stock.

Brookfield Renewable Trading Down 0.4%

NYSE BEPC opened at $29.39 on Friday. The business's fifty day simple moving average is $31.56 and its 200-day simple moving average is $35.62. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10. Brookfield Renewable Corporation has a 52 week low of $27.57 and a 52 week high of $45.18.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were paid a dividend of $0.3920 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a yield of 5.3%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a research note on Sunday, August 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Friday, July 31st. JPMorgan Chase & Co. lowered their target price on Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Finally, Barclays upped their price target on Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Brookfield Renewable currently has an average rating of "Reduce" and a consensus target price of $39.00.

About Brookfield Renewable

Brookfield Renewable Corporation is a renewable power and sustainable solutions company affiliated with Brookfield Asset Management. It develops, owns, and operates a diversified portfolio of renewable energy and sustainable infrastructure assets, supplying electricity and related services to utilities, businesses, and other customers.

The company's activities include hydroelectric generation, onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy-transition solutions.

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