903,887 Shares in Brookfield Renewable Corporation (NYSE:BEPC) Acquired by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. has acquired 903,887 shares of Brookfield Renewable Corporation, amounting to approximately $25.2 million, representing 0.62% of the company's total shares.
• Analysts have mixed ratings for Brookfield Renewable, with JPMorgan raising its price target to $38, while Wells Fargo reduced its target to $32.
• A quarterly dividend of $0.373 per share has been declared, providing investors with a 4.4% dividend yield, despite a negative payout ratio of -167.42%.

ASR Vermogensbeheer N.V. bought a new stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 903,887 shares of the company's stock, valued at approximately $25,186,000. ASR Vermogensbeheer N.V. owned about 0.62% of Brookfield Renewable as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BEPC. Treasurer of the State of North Carolina lifted its stake in shares of Brookfield Renewable by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 59,410 shares of the company's stock valued at $1,643,000 after buying an additional 370 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Brookfield Renewable by 43.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock valued at $35,000 after buying an additional 374 shares in the last quarter. Comprehensive Money Management Services LLC lifted its stake in shares of Brookfield Renewable by 3.3% during the 1st quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company's stock valued at $394,000 after buying an additional 445 shares in the last quarter. CWM LLC lifted its stake in shares of Brookfield Renewable by 14.6% during the 1st quarter. CWM LLC now owns 4,058 shares of the company's stock valued at $113,000 after buying an additional 516 shares in the last quarter. Finally, Bank of Nova Scotia lifted its stake in shares of Brookfield Renewable by 0.3% during the 4th quarter. Bank of Nova Scotia now owns 195,067 shares of the company's stock valued at $5,397,000 after buying an additional 563 shares in the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Price Performance

Brookfield Renewable stock traded down $0.42 during midday trading on Friday, reaching $33.91. 744,510 shares of the stock were exchanged, compared to its average volume of 891,277. The company's fifty day moving average is $33.45 and its 200-day moving average is $29.75. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.25 and a current ratio of 0.27. The firm has a market cap of $4.91 billion, a PE ratio of -38.10 and a beta of 1.17. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $37.00.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be issued 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 of this dividend is Friday, August 29th. Brookfield Renewable's dividend payout ratio is -167.42%.

Analyst Upgrades and Downgrades

BEPC has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price target on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research note 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.