Robeco Institutional Asset Management B.V. Purchases 23,434 Shares of Brookfield Renewable Corporation $BEPC

Key Points

• Robeco Institutional Asset Management B.V. boosted its stake in Brookfield Renewable by 20.4%, buying 23,434 shares to hold 138,491 shares worth about $5.31 million (roughly 0.10% ownership) in the fourth quarter.
• Brookfield Renewable raised its quarterly dividend to $0.392 (annualized $1.57), implying a yield of about 3.6%, up from the prior $0.37 payment.
• Analysts are mixed: the consensus rating is a Hold with a $39.75 price target, while individual views range from sell (several shops) to overweight (JPMorgan, which raised its target to $49).

Robeco Institutional Asset Management B.V. increased its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 138,491 shares of the company's stock after buying an additional 23,434 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.10% of Brookfield Renewable worth $5,310,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BEPC. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Brookfield Renewable during the fourth quarter worth about $27,000. Princeton Global Asset Management LLC grew its holdings in shares of Brookfield Renewable by 102.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company's stock worth $31,000 after buying an additional 405 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Brookfield Renewable by 191.5% during the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company's stock worth $35,000 after buying an additional 655 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Brookfield Renewable by 88.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company's stock worth $38,000 after buying an additional 543 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Brookfield Renewable by 180.3% during the third quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company's stock worth $58,000 after buying an additional 1,091 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Stock Down 0.1%

BEPC stock opened at $43.63 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.26 and a current ratio of 0.26. The business has a 50 day moving average price of $41.61 and a two-hundred day moving average price of $40.52. Brookfield Renewable Corporation has a twelve month low of $26.35 and a twelve month high of $45.18.

Brookfield Renewable Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were given a $0.392 dividend. The ex-dividend date of this dividend 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 3.6%.

Analyst Ratings Changes

A number of research analysts recently issued reports on BEPC shares. Morgan Stanley reiterated an "underweight" rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a report on Monday, March 23rd. Weiss Ratings restated a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Wall Street Zen downgraded Brookfield Renewable from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th. JPMorgan Chase & Co. raised their price target on Brookfield Renewable from $48.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Barclays raised their price target on Brookfield Renewable from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $39.75.

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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