Plato Investment Management Ltd Makes New Investment in Brookfield Renewable Corporation $BEPC

Plato Investment Management Ltd acquired a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC) during the 2nd quarter, Holdings Channel reports. The fund acquired 18,710 shares of the company’s stock, valued at approximately $691,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Motiv8 Investments LLC acquired a new position in Brookfield Renewable in the fourth quarter valued at $25,000. Torren Management LLC purchased a new position in Brookfield Renewable during the fourth quarter worth about $26,000. Allied Private Wealth LLC acquired a new stake in Brookfield Renewable in the 2nd quarter worth about $27,000. SHP Wealth Management acquired a new stake in Brookfield Renewable in the 4th quarter worth about $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Brookfield Renewable in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BEPC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Friday, July 31st. JPMorgan Chase & Co. decreased their target price on shares of Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Sunday, August 9th. Finally, Barclays upped their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $39.00.

Brookfield Renewable Stock Performance

Shares of Brookfield Renewable stock opened at $33.55 on Wednesday. The business’s fifty day moving average price is $35.23 and its 200 day moving average price is $38.53. Brookfield Renewable Corporation has a twelve month low of $31.82 and a twelve month high of $45.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, August 31st.

Brookfield Renewable Company 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.