Nuveen LLC Makes New $11.49 Million Investment in Brookfield Renewable Corporation $BEPC

Key Points

• Nuveen LLC acquired 411,428 shares of Brookfield Renewable Corporation, valued at approximately $11.5 million, representing 0.28% of the company's total shares.
• Several institutional investors have increased their stakes in Brookfield Renewable, with MassMutual Private Wealth & Trust boosting its position by 43% in the first quarter.
• Brookfield Renewable announced a quarterly dividend of $0.373 per share, yielding 4.4%, to be paid on September 30th.

Nuveen LLC purchased a new stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 411,428 shares of the company's stock, valued at approximately $11,486,000. Nuveen LLC owned about 0.28% of Brookfield Renewable at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BEPC. ASR Vermogensbeheer N.V. purchased a new stake in Brookfield Renewable in the first quarter worth $25,186,000. Voloridge Investment Management LLC raised its position 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 in the last quarter. Gotham Asset Management LLC raised its position 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 in the last quarter. Deutsche Bank AG boosted its stake in Brookfield Renewable by 7,429.9% during the 1st quarter. Deutsche Bank AG now owns 263,698 shares of the company's stock valued at $7,362,000 after purchasing an additional 260,196 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Brookfield Renewable by 52.3% in the 4th quarter. Northern Trust Corp now owns 756,065 shares of the company's stock worth $20,913,000 after purchasing an additional 259,519 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BEPC has been the topic of several research reports. 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. Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $35.00.

Brookfield Renewable Stock Up 0.8%

BEPC traded up $0.28 on Wednesday, reaching $34.29. 303,803 shares of the company traded hands, compared to its average volume of 1,003,577. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market cap of $4.97 billion, a price-to-earnings ratio of -38.53 and a beta of 1.17. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $37.00. The stock's 50 day moving average price is $34.05 and its 200-day moving average price is $30.38.

Brookfield Renewable Dividend Announcement

The company also recently announced 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 is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.4%. Brookfield Renewable's dividend payout ratio (DPR) is -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.