Brookfield Renewable Corporation $BEPC Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,646,524 shares of the company’s stock after buying an additional 121,328 shares during the period. Principal Financial Group Inc. owned about 3.21% of Brookfield Renewable worth $159,935,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Modern Wealth Management LLC raised its holdings in shares of Brookfield Renewable by 2.3% in the second quarter. Modern Wealth Management LLC now owns 14,856 shares of the company’s stock worth $487,000 after acquiring an additional 327 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in 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 purchasing an additional 350 shares in the last quarter. Gilbert & Cook Inc. increased its position in Brookfield Renewable by 4.3% during the 2nd quarter. Gilbert & Cook Inc. now owns 8,594 shares of the company’s stock worth $282,000 after purchasing an additional 357 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Brookfield Renewable by 0.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 63,088 shares of the company’s stock valued at $2,068,000 after purchasing an additional 368 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC lifted its holdings in Brookfield Renewable by 0.8% in the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 47,938 shares of the company’s stock valued at $1,571,000 after purchasing an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BEPC. Morgan Stanley lifted their price target on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Barclays increased their price objective on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.00.

Brookfield Renewable Stock Up 5.8%

Shares of Brookfield Renewable stock opened at $41.60 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of -46.74 and a beta of 1.22. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $45.10. The business’s 50 day simple moving average is $39.36 and its 200-day simple moving average is $37.87.

Brookfield Renewable Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.392 per share. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a yield of 3.8%. Brookfield Renewable’s payout ratio is presently -167.42%.

Brookfield Renewable 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.