TD Asset Management Inc Grows Position in Brookfield Renewable Corporation $BEPC

Key Points

• TD Asset Management Inc increased its stake in Brookfield Renewable Corporation by 114.4%, now owning 394,213 shares valued at approximately $12.9 million.
• Brookfield Renewable announced a quarterly dividend of $0.373 per share, reflecting an annualized dividend yield of 3.7%.
• Analysts have mixed ratings on Brookfield Renewable, with a consensus rating of "Hold" and an average price target of $36.50, while recent upgrades suggest a potential price increase from $41 to $44.

TD Asset Management Inc increased its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 114.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 394,213 shares of the company's stock after purchasing an additional 210,364 shares during the period. TD Asset Management Inc owned approximately 0.27% of Brookfield Renewable worth $12,913,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Brookfield Renewable by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 5,717,397 shares of the company's stock valued at $159,596,000 after buying an additional 135,776 shares during the period. Parnassus Investments LLC boosted its position in Brookfield Renewable by 24.2% in the 1st quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company's stock valued at $135,574,000 after buying an additional 945,297 shares during the period. Principal Financial Group Inc. boosted its position in Brookfield Renewable by 6.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company's stock valued at $123,713,000 after buying an additional 251,310 shares during the period. Robeco Schweiz AG boosted its position in Brookfield Renewable by 1.7% in the 1st quarter. Robeco Schweiz AG now owns 2,048,008 shares of the company's stock valued at $57,180,000 after buying an additional 35,008 shares during the period. Finally, Baird Financial Group Inc. boosted its position in Brookfield Renewable by 4.7% in the 1st quarter. Baird Financial Group Inc. now owns 2,022,268 shares of the company's stock valued at $56,462,000 after buying an additional 91,367 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Trading Down 2.3%

NYSE BEPC opened at $39.91 on Friday. 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 firm has a market cap of $5.78 billion, a PE ratio of -44.84 and a beta of 1.21. The company has a 50 day moving average price of $35.00 and a 200 day moving average price of $32.31. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $41.73.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 29th were paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Friday, August 29th. Brookfield Renewable's payout ratio is -167.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BEPC shares. Morgan Stanley boosted their price objective on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Weiss Ratings restated a "sell (d)" rating on shares of Brookfield Renewable in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $36.50.

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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