38,771 Shares in Brookfield Renewable Corporation $BEPC Acquired by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP acquired 38,771 Brookfield Renewable shares during the second quarter, valued at approximately $1.44 million. Institutional investors collectively own 75.12% of BEPC.
• Brookfield Renewable announced a quarterly dividend of $0.392 per share, equivalent to an annualized payout of $1.57 and a 5.3% yield.
• Analyst sentiment remains cautious: BEPC has an average “Reduce” rating and a consensus price target of $39, with two analysts rating it Hold and two rating it Sell.

Engineers Gate Manager LP acquired a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 38,771 shares of the company's stock, valued at approximately $1,439,000.

Other institutional investors have also made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC grew its position in Brookfield Renewable by 5.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,293 shares of the company's stock worth $345,000 after purchasing an additional 506 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Brookfield Renewable in the second quarter valued at about $144,000. Baird Financial Group Inc. increased its holdings in Brookfield Renewable by 11.4% in the second quarter. Baird Financial Group Inc. now owns 3,335,117 shares of the company's stock worth $123,800,000 after buying an additional 340,103 shares during the last quarter. Corient Private Wealth LP increased 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. Finally, HB Wealth Management LLC increased its position in Brookfield Renewable by 54.3% during the second quarter. HB Wealth Management LLC now owns 24,240 shares of the company's stock worth $900,000 after buying an additional 8,533 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Stock Up 2.0%

Shares of NYSE BEPC opened at $29.85 on Friday. Brookfield Renewable Corporation has a fifty-two week low of $29.02 and a fifty-two week high of $45.18. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.40. The company's 50 day simple moving average is $32.99 and its 200 day simple moving average is $36.85.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 yield of 5.3%.

Wall Street Analysts Forecast Growth

BEPC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Brookfield Renewable in a research report on Friday, July 31st. Barclays upped their price target on Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. Wall Street Zen downgraded shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a report on Sunday, August 9th. Finally, JPMorgan Chase & Co. cut their target price 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. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $39.00.

Brookfield Renewable Profile

Brookfield Renewable Corporation NYSE: BEPC is a renewable power and sustainable infrastructure company associated with Brookfield Renewable Partners L.P. The company owns and operates a diversified portfolio of renewable energy assets, including hydroelectric, wind, solar and distributed energy facilities, as well as energy storage and other sustainable solutions.

Its operations span North and South America, Europe and the Asia-Pacific region. Brookfield Renewable generates electricity for utilities, businesses and other customers through long-term power purchase agreements and other commercial arrangements.

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