Oppenheimer Asset Management Inc. Acquires 16,175 Shares of Brookfield Renewable Corporation $BEPC

Oppenheimer Asset Management Inc. increased its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 7.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 239,553 shares of the company’s stock after purchasing an additional 16,175 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Brookfield Renewable were worth $8,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Curio Wealth LLC raised its holdings in Brookfield Renewable by 95,300.0% during the 2nd quarter. Curio Wealth LLC now owns 954 shares of the company’s stock valued at $31,000 after acquiring an additional 953 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Brookfield Renewable by 191.5% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after purchasing an additional 655 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Brookfield Renewable by 88.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after purchasing an additional 543 shares during the period. Employees Retirement System of Texas bought a new stake in shares of Brookfield Renewable during the 2nd quarter valued at $42,000. Finally, Farther Finance Advisors LLC lifted its holdings in Brookfield Renewable by 180.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company’s stock worth $58,000 after purchasing an additional 1,091 shares in the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $42.89 on Wednesday. The stock has a market cap of $6.21 billion, a P/E ratio of -48.19 and a beta of 1.22. The company has a quick ratio of 0.39, a current ratio of 0.13 and a debt-to-equity ratio of 1.21. The business’s 50-day moving average price is $39.48 and its two-hundred day moving average price is $38.14. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $45.10.

Brookfield Renewable Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a $0.392 dividend. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Renewable’s payout ratio is -167.42%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Barclays upped their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Finally, Morgan Stanley increased their target price on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.00.

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.