50,500 Shares in Brookfield Renewable Corporation (NYSE:BEPC) Purchased by Forsta AP Fonden

Key Points

• Forsta AP Fonden has acquired a new position in Brookfield Renewable Corporation by purchasing 50,500 shares valued at approximately $1.4 million in the first quarter.
• The company pays a quarterly dividend of $0.373 per share, which equates to an annual yield of approximately 4.5%, although its dividend payout ratio is currently -167.42%.
• Brookfield Renewable's stock has a twelve-month range of $23.73 to $37.00 and ends the recent trading session at an opening price of $33.38.

Forsta AP Fonden purchased a new position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 50,500 shares of the company's stock, valued at approximately $1,409,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BEPC. Wealth Enhancement Advisory Services LLC lifted its position in Brookfield Renewable by 15.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company's stock valued at $863,000 after buying an additional 4,190 shares during the period. Bank of New York Mellon Corp lifted its position in Brookfield Renewable by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company's stock valued at $13,533,000 after buying an additional 7,415 shares during the period. Envestnet Asset Management Inc. lifted its position in Brookfield Renewable by 7.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 586,602 shares of the company's stock valued at $16,247,000 after buying an additional 41,542 shares during the period. BNP Paribas Financial Markets purchased a new position in Brookfield Renewable during the fourth quarter valued at $216,000. Finally, Janney Montgomery Scott LLC purchased a new position in Brookfield Renewable during the first quarter valued at $532,000. Hedge funds and other institutional investors own 75.12% of the company's stock.

Wall Street Analysts Forecast Growth

BEPC has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company reduced their price target on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th.

Brookfield Renewable Stock Up 1.4%

Shares of NYSE:BEPC traded up $0.45 on Friday, hitting $33.43. 723,908 shares of the company traded hands, compared to its average volume of 842,553. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $37.00. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The stock has a 50 day simple moving average of $33.83 and a 200-day simple moving average of $30.04. The company has a market cap of $4.84 billion, a PE ratio of -37.56 and a beta of 1.17.

Brookfield Renewable Announces Dividend

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

About Brookfield Renewable

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.