Brookfield Renewable Corporation $BEPC Shares Acquired by Baird Financial Group Inc.

Baird Financial Group Inc. lifted its position in Brookfield Renewable Corporation (NYSE:BEPC) by 30.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,635,781 shares of the company’s stock after purchasing an additional 613,513 shares during the period. Baird Financial Group Inc.’s holdings in Brookfield Renewable were worth $86,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in Brookfield Renewable by 88.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after buying an additional 543 shares in the last quarter. Norges Bank purchased a new stake in shares of Brookfield Renewable in the second quarter valued at approximately $58,250,000. State Board of Administration of Florida Retirement System raised its stake in shares of Brookfield Renewable by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 130,474 shares of the company’s stock worth $4,277,000 after buying an additional 350 shares during the period. Employees Retirement System of Texas acquired a new position in shares of Brookfield Renewable during the 2nd quarter worth about $42,000. Finally, XTX Topco Ltd raised its stake in Brookfield Renewable by 681.0% in the 2nd quarter. XTX Topco Ltd now owns 78,361 shares of the company’s stock valued at $2,569,000 after purchasing an additional 68,327 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Stock Performance

Shares of Brookfield Renewable stock opened at $40.07 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.21. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $45.10. The firm has a market capitalization of $5.80 billion, a P/E ratio of -45.02 and a beta of 1.23. The firm’s 50 day moving average is $40.45 and its two-hundred day moving average is $35.67.

Brookfield Renewable Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be given a dividend of $0.373 per share. The ex-dividend date is Friday, November 28th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.7%. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

Wall Street Analyst Weigh In

BEPC has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Morgan Stanley increased their target price on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Barclays lifted their target price on shares of Brookfield Renewable from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Finally, Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.75.

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.