Brookfield Renewable Corporation $BEPC Stock Position Raised 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 boosted its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 24.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 292,483 shares of the company's stock after buying an additional 56,908 shares during the quarter. Amundi owned 0.20% of Brookfield Renewable worth $8,271,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BEPC. MAI Capital Management boosted its stake in Brookfield Renewable by 59.0% during the first quarter. MAI Capital Management now owns 951 shares of the company's stock valued at $27,000 after buying an additional 353 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in Brookfield Renewable during the first quarter valued at about $28,000. Monetary Management Group Inc. bought a new position in Brookfield Renewable during the first quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Brookfield Renewable by 43.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock valued at $35,000 after purchasing an additional 374 shares during the last quarter. Finally, Measured Risk Portfolios Inc. purchased a new stake in shares of Brookfield Renewable during the fourth quarter valued at $52,000. Institutional investors own 75.12% of the company's stock.

Wall Street Analyst Weigh In

BEPC has been the subject of several analyst reports. 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 report on Tuesday, July 22nd. Morgan Stanley upped their target price on Brookfield Renewable from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Brookfield Renewable Stock Up 1.6%

Brookfield Renewable stock traded up $0.54 during mid-day trading on Monday, hitting $34.49. The company's stock had a trading volume of 550,541 shares, compared to its average volume of 706,156. The firm's 50 day moving average is $34.33 and its 200 day moving average is $30.96. The company has a market cap of $5.00 billion, a PE ratio of -38.75 and a beta of 1.13. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.27 and a quick ratio of 0.27. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $37.00.

Brookfield Renewable Dividend Announcement

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 paid a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable's dividend payout ratio is currently -167.42%.

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.