Sequoia Financial Advisors LLC Invests $1.85 Million in Brookfield Renewable Corporation (NYSE:BEPC)

Sequoia Financial Advisors LLC bought a new position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 66,079 shares of the company's stock, valued at approximately $1,845,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Brookfield Renewable in the 4th quarter worth $47,478,000. Parnassus Investments LLC raised its position in shares of Brookfield Renewable by 46.6% during the 4th quarter. Parnassus Investments LLC now owns 3,910,496 shares of the company's stock valued at $108,164,000 after buying an additional 1,242,858 shares in the last quarter. ClearBridge Investments Ltd lifted its holdings in shares of Brookfield Renewable by 31.1% in the 4th quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company's stock valued at $80,071,000 after acquiring an additional 686,319 shares during the last quarter. Epoch Investment Partners Inc. grew its position in Brookfield Renewable by 27.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company's stock worth $62,295,000 after acquiring an additional 490,448 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its stake in Brookfield Renewable by 135.0% during the fourth quarter. Voloridge Investment Management LLC now owns 668,096 shares of the company's stock worth $18,480,000 after acquiring an additional 383,787 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BEPC shares. Wells Fargo & Company lowered their price objective on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Barclays started coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 price target on the stock.

Brookfield Renewable Stock Up 0.3%

Shares of BEPC stock traded up $0.10 during trading hours on Tuesday, reaching $32.88. 843,707 shares of the stock were exchanged, compared to its average volume of 966,116. Brookfield Renewable Corporation has a 12-month low of $23.73 and a 12-month high of $35.14. The company's 50-day moving average price is $29.95 and its 200-day moving average price is $28.28. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.25 and a quick ratio of 0.25.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were paid a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 4.54%. The ex-dividend date was Friday, May 30th. Brookfield Renewable's payout ratio is currently -167.42%.

Brookfield Renewable 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.