Argonautica Private Wealth Management Inc. Buys 10,342 Shares of Brookfield Renewable Corporation (NYSE:BEPC)

Argonautica Private Wealth Management Inc. boosted its stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 39.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,272 shares of the company's stock after buying an additional 10,342 shares during the quarter. Argonautica Private Wealth Management Inc.'s holdings in Brookfield Renewable were worth $1,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Brookfield Renewable by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 588,262 shares of the company's stock valued at $16,271,000 after purchasing an additional 16,304 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Brookfield Renewable by 15.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company's stock valued at $863,000 after purchasing an additional 4,190 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Brookfield Renewable by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company's stock valued at $154,464,000 after purchasing an additional 106,880 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 valued at $13,533,000 after purchasing an additional 7,415 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Brookfield Renewable by 7.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 586,602 shares of the company's stock valued at $16,247,000 after purchasing an additional 41,542 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BEPC shares. Barclays started coverage on Brookfield Renewable in a research report on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 target price for the company. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company decreased their price objective 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 Performance

BEPC traded down $0.40 during trading hours on Thursday, hitting $36.55. The stock had a trading volume of 662,181 shares, compared to its average volume of 879,061. The company's fifty day simple moving average is $32.16 and its 200 day simple moving average is $29.05. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $36.96. The stock has a market cap of $5.30 billion, a PE ratio of -41.07 and a beta of 1.16. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.03.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were issued a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Renewable's dividend payout ratio (DPR) is currently -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.