Brookfield Renewable Corporation $BEPC Stake Raised by Citigroup Inc.

Citigroup Inc. lifted its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 20.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 475,885 shares of the company’s stock after acquiring an additional 81,530 shares during the period. Citigroup Inc.’s holdings in Brookfield Renewable were worth $16,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its position in Brookfield Renewable by 9.6% in the third quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company’s stock worth $18,348,000 after acquiring an additional 46,796 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Brookfield Renewable in the 2nd quarter worth approximately $316,000. SG Americas Securities LLC raised its holdings in shares of Brookfield Renewable by 699.1% in the 3rd quarter. SG Americas Securities LLC now owns 221,279 shares of the company’s stock worth $7,616,000 after purchasing an additional 193,588 shares in the last quarter. Legal & General Group Plc lifted its stake in Brookfield Renewable by 10.8% during the second quarter. Legal & General Group Plc now owns 3,827,746 shares of the company’s stock valued at $125,179,000 after purchasing an additional 373,517 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. lifted its stake in Brookfield Renewable by 6.8% during the third quarter. ASR Vermogensbeheer N.V. now owns 912,198 shares of the company’s stock valued at $31,389,000 after purchasing an additional 57,711 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Down 3.0%

NYSE:BEPC opened at $42.71 on Friday. The business’s fifty day moving average price is $40.64 and its 200 day moving average price is $38.86. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of -47.99 and a beta of 1.22. The company has a current ratio of 0.13, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $45.18.

Brookfield Renewable Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Renewable’s payout ratio is currently -167.42%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BEPC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Morgan Stanley lifted their target price on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Barclays upped their target price on Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.00.

Brookfield Renewable Company Profile

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.