Cardinal Point Capital Management ULC Purchases New Stake in Brookfield Renewable Corporation $BEPC

Cardinal Point Capital Management ULC purchased a new stake in Brookfield Renewable Corporation (NYSE:BEPC) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 6,788 shares of the company’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. MAI Capital Management raised its stake in Brookfield Renewable by 59.0% during the first quarter. MAI Capital Management now owns 951 shares of the company’s stock valued at $27,000 after buying an additional 353 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Brookfield Renewable during the first quarter worth about $28,000. Monetary Management Group Inc. bought a new position in Brookfield Renewable in the 1st quarter valued at about $28,000. SVB Wealth LLC bought a new position in Brookfield Renewable in the 1st quarter valued at about $52,000. Finally, Tsfg LLC grew its position in Brookfield Renewable by 97.9% in the 1st quarter. Tsfg LLC now owns 2,050 shares of the company’s stock valued at $57,000 after buying an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

Shares of NYSE BEPC opened at $40.61 on Friday. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $41.73. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of -45.63 and a beta of 1.21. The firm has a 50-day moving average of $35.64 and a two-hundred day moving average of $32.74.

Brookfield Renewable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Renewable’s dividend payout ratio is presently -167.42%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BEPC shares. JPMorgan Chase & Co. increased 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. Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Renewable in a research report on Friday. Barclays increased their target price on shares of Brookfield Renewable from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Morgan Stanley increased their target price on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.50.

Brookfield Renewable Profile

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.