Wellington Management Group LLP Makes New Investment in Brookfield Renewable Corporation $BEPC

Wellington Management Group LLP bought a new position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,135 shares of the company's stock, valued at approximately $785,000.

A number of other hedge funds have also modified their holdings of BEPC. ASR Vermogensbeheer N.V. acquired a new position in shares of Brookfield Renewable in the 1st quarter worth $25,186,000. Northern Trust Corp grew its holdings in shares of Brookfield Renewable by 111.5% in the 1st quarter. Northern Trust Corp now owns 1,599,275 shares of the company's stock worth $44,652,000 after acquiring an additional 843,210 shares during the last quarter. Nuveen LLC acquired a new position in shares of Brookfield Renewable in the 1st quarter worth $11,486,000. Voloridge Investment Management LLC grew its holdings in shares of Brookfield Renewable by 135.0% in the 4th quarter. Voloridge Investment Management LLC now owns 668,096 shares of the company's stock worth $18,480,000 after acquiring an additional 383,787 shares during the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of Brookfield Renewable by 77.1% in the 4th quarter. Gotham Asset Management LLC now owns 812,871 shares of the company's stock worth $22,484,000 after acquiring an additional 354,008 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BEPC shares. Morgan Stanley lifted their target price on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their target price on Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Brookfield Renewable currently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Brookfield Renewable Stock Down 1.3%

Shares of BEPC stock traded down $0.42 on Friday, reaching $33.20. 1,125,462 shares of the company's stock traded hands, compared to its average volume of 712,353. Brookfield Renewable Corporation has a 12-month low of $23.73 and a 12-month high of $37.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market capitalization of $4.81 billion, a P/E ratio of -37.30 and a beta of 1.13. The business's 50 day moving average price is $34.28 and its two-hundred day moving average price is $30.71.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be given a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a yield of 4.5%. Brookfield Renewable's dividend payout ratio (DPR) is presently -167.42%.

Brookfield Renewable Company 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.