Plato Investment Management Ltd Buys Shares of 18,710 Brookfield Renewable Corporation $BEPC

Plato Investment Management Ltd purchased a new stake in Brookfield Renewable Corporation (NYSE:BEPC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,710 shares of the company’s stock, valued at approximately $691,000.

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

Brookfield Renewable Trading Down 4.4%

Shares of BEPC stock opened at $33.55 on Wednesday. The firm has a 50-day moving average price of $35.23 and a 200 day moving average price of $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 debt-to-equity ratio of 2.10, a current ratio of 0.40 and a quick ratio of 0.40.

Brookfield Renewable Dividend Announcement

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

Wall Street Analysts Forecast Growth

BEPC has been the topic of several research reports. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. JPMorgan Chase & Co. cut their price objective on Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Barclays upped their target price on Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a report on Friday, July 31st. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $39.00.

Brookfield Renewable 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.