AGF Management Ltd. Sells 42,765 Shares of Brookfield Renewable Corporation (NYSE:BEPC)

Key Points

• AGF Management Ltd. decreased its stake in Brookfield Renewable Corporation by 8.2%, selling 42,765 shares and retaining ownership of around 480,671 shares worth approximately $13.67 million.
• A new quarterly dividend of $0.373 per share has been announced, with a projected annual yield of 4.5%, payable on September 30th.
• Institutional investors currently hold 75.12% of Brookfield Renewable's stock, indicating significant institutional interest in the company.

AGF Management Ltd. trimmed its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 8.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,671 shares of the company's stock after selling 42,765 shares during the period. AGF Management Ltd. owned 0.33% of Brookfield Renewable worth $13,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ASR Vermogensbeheer N.V. bought a new position in Brookfield Renewable in the 1st quarter valued at $25,186,000. Epoch Investment Partners Inc. boosted its position in Brookfield Renewable by 27.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company's stock valued at $62,295,000 after buying an additional 490,448 shares during the last quarter. Nuveen LLC bought a new position in Brookfield Renewable in the 1st quarter valued at $11,486,000. Voloridge Investment Management LLC boosted its position in Brookfield Renewable by 135.0% in the 4th quarter. Voloridge Investment Management LLC now owns 668,096 shares of the company's stock valued at $18,480,000 after buying an additional 383,787 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its position in Brookfield Renewable by 77.1% in the 4th quarter. Gotham Asset Management LLC now owns 812,871 shares of the company's stock valued at $22,484,000 after buying an additional 354,008 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Trading Up 1.4%

Shares of NYSE:BEPC traded up $0.45 during midday trading on Friday, hitting $33.43. The company had a trading volume of 723,908 shares, compared to its average volume of 842,553. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $37.00. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of -37.56 and a beta of 1.17. The firm has a fifty day simple moving average of $33.83 and a 200 day simple moving average of $30.00.

Brookfield Renewable Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price objective on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. raised their price target on Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd.

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.