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 lifted its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 236.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Other institutional investors and hedge funds also recently modified their holdings of the company. SCS Capital Management LLC bought a new stake in Brookfield Renewable during the first quarter worth $3,957,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Brookfield Renewable by 2.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,020 shares of the company's stock valued at $6,310,000 after purchasing an additional 4,768 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its stake in shares of Brookfield Renewable by 16.2% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 13,645 shares of the company's stock worth $381,000 after purchasing an additional 1,904 shares during the period. Guardian Partners Inc. boosted its holdings in shares of Brookfield Renewable by 11.8% in the 1st quarter. Guardian Partners Inc. now owns 22,188 shares of the company's stock worth $590,000 after buying an additional 2,350 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Brookfield Renewable by 32.7% during the first quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company's stock valued at $17,995,000 after buying an additional 158,771 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BEPC has been the topic of several research reports. Morgan Stanley lifted their price objective on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. raised their price target on shares of Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Brookfield Renewable currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

Brookfield Renewable Price Performance

Shares of NYSE:BEPC opened at $33.74 on Thursday. The firm has a market capitalization of $4.89 billion, a PE ratio of -37.91 and a beta of 1.13. 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 company has a 50-day moving average price of $34.32 and a two-hundred day moving average price of $30.80. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $37.00.

Brookfield Renewable Dividend Announcement

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

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