TD Private Client Wealth LLC Has $306,000 Stock Holdings in Brookfield Renewable Corporation $BEPC

Key Points

• TD Private Client Wealth LLC significantly increased its holdings in Brookfield Renewable Corporation by 1,469.7% during Q2, owning 9,340 shares valued at approximately $306,000.
• Morgan Stanley and JPMorgan Chase have raised their price targets for Brookfield Renewable stock, now at $39.00 and $41.00 respectively, with analysts generally rating the stock as a Moderate Buy.
• The company declared a quarterly dividend of $0.373 per share, with a yield of 4.3%, set to be paid on September 30th.

TD Private Client Wealth LLC increased its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 1,469.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,340 shares of the company's stock after buying an additional 8,745 shares during the period. TD Private Client Wealth LLC's holdings in Brookfield Renewable were worth $306,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. LongView Wealth Management boosted its position in Brookfield Renewable by 11.2% during the 2nd quarter. LongView Wealth Management now owns 8,936 shares of the company's stock worth $293,000 after buying an additional 900 shares during the period. Mn Services Vermogensbeheer B.V. lifted its position in shares of Brookfield Renewable by 4.8% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 50,200 shares of the company's stock worth $1,642,000 after purchasing an additional 2,300 shares during the period. Voya Investment Management LLC lifted its position in shares of Brookfield Renewable by 4.3% in the 1st quarter. Voya Investment Management LLC now owns 17,114 shares of the company's stock worth $478,000 after purchasing an additional 704 shares during the period. Modern Wealth Management LLC lifted its position in shares of Brookfield Renewable by 6.8% in the 1st quarter. Modern Wealth Management LLC now owns 14,529 shares of the company's stock worth $406,000 after purchasing an additional 919 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Brookfield Renewable by 5.8% in the 1st quarter. Rhumbline Advisers now owns 123,616 shares of the company's stock worth $3,451,000 after purchasing an additional 6,814 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BEPC has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target 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. boosted their price target on shares of Brookfield Renewable from $39.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Brookfield Renewable has a consensus rating of "Moderate Buy" and an average price target of $35.75.

Brookfield Renewable Stock Up 1.6%

Brookfield Renewable stock opened at $34.54 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. Brookfield Renewable Corporation has a 12-month low of $23.73 and a 12-month high of $37.00. The firm's fifty day moving average is $34.32 and its 200 day moving average is $31.37. The company has a market capitalization of $5.00 billion, a PE ratio of -38.81 and a beta of 1.13.

Brookfield Renewable Announces Dividend

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

About Brookfield Renewable

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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