Brookfield Renewable Corporation $BEPC Shares Bought by Amundi

Key Points

• Amundi increased its stake in Brookfield Renewable Corporation by 24.2%, acquiring an additional 56,908 shares during the first quarter, bringing its total ownership to approximately $8.27 million.
• Analysts have set new price targets for Brookfield Renewable, with Morgan Stanley raising theirs from $38.00 to $39.00 and JPMorgan lifting theirs from $34.00 to $38.00, reflecting a generally positive outlook for the stock.
• Brookfield Renewable recently declared a $0.373 quarterly dividend, with an annualized yield of 4.4%, although its dividend payout ratio currently stands at -167.42%.

Amundi increased its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 24.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 292,483 shares of the company's stock after acquiring an additional 56,908 shares during the period. Amundi owned approximately 0.20% of Brookfield Renewable worth $8,271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in Brookfield Renewable by 15.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company's stock worth $863,000 after acquiring an additional 4,190 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Brookfield Renewable by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company's stock worth $13,533,000 after acquiring an additional 7,415 shares in the last quarter. Raymond James Financial Inc. lifted its position in Brookfield Renewable by 23.2% during the 1st quarter. Raymond James Financial Inc. now owns 163,852 shares of the company's stock worth $4,575,000 after acquiring an additional 30,840 shares in the last quarter. LPL Financial LLC lifted its position in Brookfield Renewable by 91.9% during the 1st quarter. LPL Financial LLC now owns 64,108 shares of the company's stock worth $1,790,000 after acquiring an additional 30,704 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Brookfield Renewable during the 4th quarter worth approximately $216,000. 75.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on BEPC. Morgan Stanley boosted their price target on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. upped their target price on Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $35.00.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC traded up $0.10 during trading on Friday, reaching $33.98. The stock had a trading volume of 554,920 shares, compared to its average volume of 714,610. Brookfield Renewable Corporation has a one year low of $23.73 and a one year high of $37.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $4.92 billion, a PE ratio of -38.18 and a beta of 1.13. The firm's 50 day moving average price is $34.32 and its two-hundred day moving average price is $30.87.

Brookfield Renewable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, August 29th. Brookfield Renewable's dividend payout ratio is presently -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.