Aviva PLC Boosts Holdings in Brookfield Renewable Corporation $BEPC

Aviva PLC grew its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,369 shares of the company’s stock after purchasing an additional 6,002 shares during the period. Aviva PLC’s holdings in Brookfield Renewable were worth $3,158,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Harvest Portfolios Group Inc. lifted its holdings in Brookfield Renewable by 5.6% in the second quarter. Harvest Portfolios Group Inc. now owns 347,548 shares of the company’s stock worth $11,391,000 after buying an additional 18,420 shares during the period. Vestmark Advisory Solutions Inc. bought a new position in shares of Brookfield Renewable in the 2nd quarter worth approximately $768,000. Tsfg LLC lifted its stake in shares of Brookfield Renewable by 49.3% in the 2nd quarter. Tsfg LLC now owns 3,061 shares of the company’s stock valued at $100,000 after purchasing an additional 1,011 shares during the period. Gilbert & Cook Inc. boosted its position in shares of Brookfield Renewable by 4.3% during the second quarter. Gilbert & Cook Inc. now owns 8,594 shares of the company’s stock valued at $282,000 after purchasing an additional 357 shares in the last quarter. Finally, Atria Investments Inc bought a new stake in shares of Brookfield Renewable during the second quarter valued at approximately $316,000. 75.12% of the stock is owned by institutional investors.

Brookfield Renewable Stock Down 1.4%

Brookfield Renewable stock opened at $42.00 on Thursday. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $45.10. The stock has a fifty day simple moving average of $38.11 and a two-hundred day simple moving average of $34.31. 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 firm has a market cap of $6.09 billion, a price-to-earnings ratio of -47.19 and a beta of 1.29.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a $0.373 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.49 dividend on an annualized basis and a yield of 3.6%. Brookfield Renewable’s payout ratio is -167.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BEPC. Barclays boosted 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. JPMorgan Chase & Co. lifted their price target 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 upped their price objective on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Brookfield Renewable in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Brookfield Renewable has a consensus rating of “Hold” and an average target price of $37.50.

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.