Plato Investment Management Ltd Purchases 29,561 Shares of Brookfield Renewable Corporation $BEPC

Key Points

• Plato Investment Management Ltd increased its stake in Brookfield Renewable Corporation by 236.1%, purchasing an additional 29,561 shares, bringing its total holdings to 42,082 shares valued at approximately $1.19 million.
• Brookfield Renewable recently announced a quarterly dividend of $0.373, with an annualized dividend totaling $1.49 and a yield of 4.4%, set to be paid out on September 30th.
• Analysts have a "Moderate Buy" consensus rating for Brookfield Renewable, with new price targets set between $35.00 and $39.00 by agencies like Morgan Stanley and JPMorgan Chase.

Plato Investment Management Ltd grew its stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 236.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,082 shares of the company's stock after buying an additional 29,561 shares during the period. Plato Investment Management Ltd's holdings in Brookfield Renewable were worth $1,187,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BEPC. MAI Capital Management grew its stake in Brookfield Renewable by 59.0% in the 1st quarter. MAI Capital Management now owns 951 shares of the company's stock worth $27,000 after buying an additional 353 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in Brookfield Renewable in the 1st quarter worth approximately $28,000. Monetary Management Group Inc. purchased a new position in Brookfield Renewable in the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Brookfield Renewable by 43.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock valued at $35,000 after purchasing an additional 374 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Brookfield Renewable in the 1st quarter valued at $52,000. Hedge funds and other institutional investors own 75.12% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BEPC shares. Morgan Stanley upped 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, August 26th. JPMorgan Chase & Co. upped 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable presently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC traded up $0.05 during trading on Tuesday, reaching $34.53. 190,320 shares of the company traded hands, compared to its average volume of 985,820. The firm has a 50 day simple moving average of $34.33 and a 200-day simple moving average of $30.96. 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 has a market capitalization of $5.00 billion, a PE ratio of -38.81 and a beta of 1.13. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $37.00.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, August 29th. Brookfield Renewable's dividend payout ratio is -167.42%.

Brookfield Renewable Company Profile

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.