McElhenny Sheffield Capital Management LLC Makes New $90,000 Investment in Brookfield Renewable Corporation $BEPC

McElhenny Sheffield Capital Management LLC acquired a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,760 shares of the company’s stock, valued at approximately $90,000.

Other hedge funds also recently made changes to their positions in the company. MAI Capital Management grew its holdings in shares of 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 purchasing an additional 353 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Brookfield Renewable during the first quarter worth about $28,000. Monetary Management Group Inc. acquired a new stake in shares of Brookfield Renewable during the first quarter worth about $28,000. SVB Wealth LLC acquired a new stake in shares of Brookfield Renewable during the first quarter worth about $52,000. Finally, Tsfg LLC boosted its stake in shares of Brookfield Renewable by 97.9% during the first quarter. Tsfg LLC now owns 2,050 shares of the company’s stock worth $57,000 after buying an additional 1,014 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

Shares of NYSE:BEPC opened at $38.10 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The company has a market cap of $5.52 billion, a P/E ratio of -42.81 and a beta of 1.21. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $39.20. The company has a 50-day moving average price of $34.34 and a 200 day moving average price of $31.81.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, August 29th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Renewable in a research note on Wednesday. Morgan Stanley increased their target price on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Brookfield Renewable from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.75.

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.