Barclays Reiterates Hold Rating on Brookfield Renewable (BEPC)

Core Viewpoint - Brookfield Renewable Corporation (NYSE:BEPC) is recognized as one of the best utility dividend stocks to buy, with a strong focus on renewable power and decarbonization solutions across a diversified portfolio [1][2]. Financial Performance - In the third quarter, Brookfield Renewable's Funds From Operations (FFO) grew by nearly 10% year-over-year to $302 million, driven by solid operational performance, growth from development activities, and accretive acquisitions [4]. - The company aims to achieve over 10% FFO per unit growth for the year [4]. Market Position and Ratings - Barclays has reiterated a 'Hold' rating on Brookfield Renewable, setting a price target of $35, which indicates a downside of over 15% from the current market price [3]. - The stock reached a multi-year high earlier this month despite falling short of earnings estimates [4]. Strategic Partnerships - Brookfield Renewable has signed a partnership with the US government to accelerate the deployment of Westinghouse's reactor technology, which is expected to drive significant growth in the upcoming year [5]. Dividend Policy - The company offers a robust annual dividend yield of 3.62% and is committed to delivering 5% to 9% annual dividend growth over the long term [6].