SCS Capital Management LLC Takes Position in Brookfield Renewable Corporation $BEPC

SCS Capital Management LLC purchased a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 141,724 shares of the company’s stock, valued at approximately $3,957,000. SCS Capital Management LLC owned 0.10% of Brookfield Renewable as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. MAI Capital Management grew its holdings in Brookfield Renewable by 59.0% during the first quarter. MAI Capital Management now owns 951 shares of the company’s stock worth $27,000 after acquiring an additional 353 shares during the period. New England Capital Financial Advisors LLC acquired a new position in Brookfield Renewable during the first quarter worth about $28,000. Monetary Management Group Inc. acquired a new position in Brookfield Renewable during the first quarter worth about $28,000. MassMutual Private Wealth & Trust FSB grew its holdings in Brookfield Renewable by 43.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company’s stock worth $35,000 after acquiring an additional 374 shares during the period. Finally, SVB Wealth LLC acquired a new position in Brookfield Renewable during the first quarter worth about $52,000. 75.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BEPC. Morgan Stanley lifted their target price on Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their target price on Brookfield Renewable from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Brookfield Renewable has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Brookfield Renewable Trading Up 1.5%

NYSE:BEPC opened at $33.90 on Wednesday. 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 1-year low of $23.73 and a 1-year high of $37.00. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of -38.09 and a beta of 1.13. The stock has a fifty day simple moving average of $34.31 and a 200 day simple moving average of $30.77.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be given a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a yield of 4.4%. Brookfield Renewable’s dividend payout ratio (DPR) is presently -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.