Brookfield Renewable Corporation (NYSE:BEPC) Declares Quarterly Dividend of $0.39

Key Points

• Brookfield Renewable declared a quarterly dividend of $0.392 per share, payable September 29 to shareholders of record August 31. The payment implies an annualized dividend of approximately $1.56 and a 4.9% yield.
• The dividend may not be covered by earnings: the company reported a payout ratio of -866.7%, while analysts expect a loss of $2.67 per share next year and an estimated future payout ratio of -58.4%.
• BEPC shares opened at $32.26, near their 52-week low of $31.82 and below their 50-day and 200-day moving averages. Institutional investors own approximately 75.12% of the stock.

Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report) declared a quarterly dividend on Thursday, July 30th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.392 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, August 31st.

Brookfield Renewable has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years. Brookfield Renewable has a dividend payout ratio of -866.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Brookfield Renewable to earn ($2.67) per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of -58.4%.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC opened at $32.26 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10. Brookfield Renewable has a 52 week low of $31.82 and a 52 week high of $45.18. The firm has a 50-day moving average price of $34.63 and a 200 day moving average price of $38.10.

Hedge Funds Weigh In On Brookfield Renewable

Several hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP boosted its stake in shares of Brookfield Renewable by 2.2% during the 2nd quarter. Corient Private Wealth LP now owns 13,814 shares of the company's stock worth $513,000 after purchasing an additional 303 shares during the last quarter. California State Teachers Retirement System raised its holdings in Brookfield Renewable by 857.3% in the 2nd quarter. California State Teachers Retirement System now owns 70,973 shares of the company's stock valued at $2,635,000 after acquiring an additional 63,559 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of Brookfield Renewable by 54.3% during the 2nd quarter. HB Wealth Management LLC now owns 24,240 shares of the company's stock worth $900,000 after purchasing an additional 8,533 shares during the period. AlphaGrep UK Ltd acquired a new stake in shares of Brookfield Renewable during the second quarter worth $329,000. Finally, Plan A Wealth LLC grew its position in shares of Brookfield Renewable by 5.0% in the second quarter. Plan A Wealth LLC now owns 18,233 shares of the company's stock valued at $677,000 after purchasing an additional 871 shares during the period. Hedge funds and other institutional investors own 75.12% of the company's stock.

Brookfield Renewable Company 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.

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