Abundance Wealth Counselors Boosts Stake in Brookfield Renewable Corporation $BEPC

Abundance Wealth Counselors raised its position in Brookfield Renewable Corporation (NYSE:BEPC) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,229 shares of the company’s stock after buying an additional 1,463 shares during the period. Abundance Wealth Counselors’ holdings in Brookfield Renewable were worth $1,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MAI Capital Management boosted its position in Brookfield Renewable by 59.0% in the 1st quarter. MAI Capital Management now owns 951 shares of the company’s stock valued at $27,000 after buying an additional 353 shares during the last quarter. Comprehensive Money Management Services LLC boosted its position in Brookfield Renewable by 3.3% in the 1st quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company’s stock valued at $394,000 after buying an additional 445 shares during the last quarter. CWM LLC lifted its position in shares of Brookfield Renewable by 14.6% during the first quarter. CWM LLC now owns 4,058 shares of the company’s stock worth $113,000 after purchasing an additional 516 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Brookfield Renewable by 8.8% during the second quarter. SOA Wealth Advisors LLC. now owns 8,709 shares of the company’s stock worth $285,000 after purchasing an additional 701 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Brookfield Renewable by 4.3% during the first quarter. Voya Investment Management LLC now owns 17,114 shares of the company’s stock worth $478,000 after purchasing an additional 704 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BEPC. JPMorgan Chase & Co. increased their price target on shares of Brookfield Renewable from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Morgan Stanley increased their price target on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Brookfield Renewable Price Performance

BEPC opened at $35.68 on Friday. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of -40.09 and a beta of 1.21. Brookfield Renewable Corporation has a fifty-two week low of $23.73 and a fifty-two week high of $37.00. The company’s 50-day moving average price is $34.22 and its 200 day moving average price is $31.51. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 29th were paid a dividend of $0.373 per share. The ex-dividend date was Friday, August 29th. This represents a $1.49 annualized dividend and a yield of 4.2%. Brookfield Renewable’s dividend payout ratio is -167.42%.

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.