TD Waterhouse Canada Inc. Buys 97,326 Shares of Brookfield Renewable Corporation $BEPC

Key Points

• TD Waterhouse Canada increased its Brookfield Renewable stake by 7.5%, purchasing 97,326 additional shares to reach 1.39 million shares valued at approximately $51.3 million. Institutional investors collectively own 75.12% of BEPC.
• Brookfield Renewable shares opened at $31.47, near the low end of their 52-week range of $30.91 to $45.18. The company declared a quarterly dividend of $0.392, equivalent to an annualized $1.57 payout and a 5.0% yield.
• Analyst sentiment remains cautious: ratings include two Holds and two Sells, producing a consensus “Reduce” rating and a $39 average price target.

TD Waterhouse Canada Inc. increased its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,391,791 shares of the company's stock after acquiring an additional 97,326 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.92% of Brookfield Renewable worth $51,293,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Motiv8 Investments LLC acquired a new stake in Brookfield Renewable in the fourth quarter worth $25,000. Allied Private Wealth LLC acquired a new stake in Brookfield Renewable during the 2nd quarter worth $27,000. SHP Wealth Management bought a new position in Brookfield Renewable during the fourth quarter worth about $30,000. NewEdge Advisors LLC bought a new position in Brookfield Renewable during the first quarter worth about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Brookfield Renewable in the second quarter valued at about $33,000. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Stock Up 0.3%

Shares of BEPC opened at $31.47 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.10. Brookfield Renewable Corporation has a twelve month low of $30.91 and a twelve month high of $45.18. The company has a 50 day moving average of $34.14 and a 200-day moving average of $37.74.

Brookfield Renewable Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.392 dividend. This represents a $1.57 annualized dividend and a yield of 5.0%. The ex-dividend date is Monday, August 31st.

Analysts Set New Price Targets

BEPC has been the topic of several recent analyst reports. Wall Street Zen cut Brookfield Renewable from a "hold" rating to a "sell" rating in a report on Sunday, August 9th. Barclays lifted their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $39.00.

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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