8,234 Shares in Brookfield Renewable Corporation $BEPC Acquired by Truist Financial Corp

Key Points

• Truist Financial Corp acquired 8,234 shares of Brookfield Renewable Corporation (NYSE:BEPC) during the second quarter, totaling approximately $270,000 in value.
• Brookfield Renewable's stock has declined by 2.3%, with a current trading price around $39.91 and a twelve-month high of $41.73.
• The company recently declared a quarterly dividend of $0.373, yielding about 3.7%, though its dividend payout ratio sits at an unsustainable -167.42%.

Truist Financial Corp purchased a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,234 shares of the company's stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MAI Capital Management lifted its holdings in Brookfield Renewable by 59.0% during the 1st quarter. MAI Capital Management now owns 951 shares of the company's stock worth $27,000 after buying an additional 353 shares during the period. New England Capital Financial Advisors LLC acquired a new position in Brookfield Renewable in the first quarter valued at $28,000. Monetary Management Group Inc. acquired a new position in shares of Brookfield Renewable in the 1st quarter valued at about $28,000. SVB Wealth LLC acquired a new position in shares of Brookfield Renewable in the 1st quarter valued at about $52,000. Finally, Tsfg LLC lifted its stake in Brookfield Renewable by 97.9% in the first quarter. Tsfg LLC now owns 2,050 shares of the company's stock valued at $57,000 after buying an additional 1,014 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Stock Down 2.3%

BEPC stock opened at $39.91 on Friday. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $41.73. 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's 50 day moving average is $35.00 and its 200-day moving average is $32.28. The firm has a market capitalization of $5.78 billion, a PE ratio of -44.84 and a beta of 1.21.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were issued a $0.373 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 3.7%. Brookfield Renewable's dividend payout ratio is currently -167.42%.

Wall Street Analysts Forecast Growth

BEPC has been the topic of several recent analyst reports. Weiss Ratings reissued a "sell (d)" rating on shares of Brookfield Renewable in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Renewable currently has an average rating of "Hold" and an average price target of $36.50.

Brookfield Renewable 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.

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