TD Asset Management Inc Purchases 210,364 Shares of Brookfield Renewable Corporation $BEPC

TD Asset Management Inc increased its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 114.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 394,213 shares of the company’s stock after acquiring an additional 210,364 shares during the period. TD Asset Management Inc’s holdings in Brookfield Renewable were worth $12,913,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of Brookfield Renewable by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company’s stock worth $13,533,000 after buying an additional 7,415 shares during the period. Raymond James Financial Inc. lifted its position in Brookfield Renewable by 23.2% during the 1st quarter. Raymond James Financial Inc. now owns 163,852 shares of the company’s stock worth $4,575,000 after acquiring an additional 30,840 shares during the period. LPL Financial LLC lifted its position in Brookfield Renewable by 91.9% during the 1st quarter. LPL Financial LLC now owns 64,108 shares of the company’s stock worth $1,790,000 after acquiring an additional 30,704 shares during the period. Maryland State Retirement & Pension System acquired a new stake in Brookfield Renewable during the 2nd quarter worth about $210,000. Finally, Foresight Group Ltd Liability Partnership acquired a new stake in shares of Brookfield Renewable in the first quarter worth $6,338,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC opened at $39.91 on Friday. The company’s fifty day moving average price is $35.00 and its 200 day moving average price is $32.31. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $41.73. The company has a market capitalization of $5.78 billion, a PE ratio of -44.84 and a beta of 1.21. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27.

Brookfield Renewable Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased 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. Morgan Stanley increased their price objective 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, Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Renewable in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.50.

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.