ASR Vermogensbeheer N.V. Takes Position in Brookfield Renewable Corporation (NYSE:BEPC)

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 position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 903,887 shares of the company's stock, valued at approximately $25,186,000. ASR Vermogensbeheer N.V. owned approximately 0.62% of Brookfield Renewable at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BEPC. Treasurer of the State of North Carolina lifted its position in shares of Brookfield Renewable by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 59,410 shares of the company's stock worth $1,643,000 after purchasing an additional 370 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Brookfield Renewable by 43.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock worth $35,000 after buying an additional 374 shares during the period. Comprehensive Money Management Services LLC lifted its holdings in Brookfield Renewable by 3.3% during the 1st quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company's stock worth $394,000 after buying an additional 445 shares in the last quarter. CWM LLC lifted its holdings in Brookfield Renewable by 14.6% during the 1st quarter. CWM LLC now owns 4,058 shares of the company's stock worth $113,000 after buying an additional 516 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in Brookfield Renewable by 0.3% in 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 during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Brookfield Renewable Stock Up 1.0%

Brookfield Renewable stock traded up $0.33 during trading on Thursday, reaching $34.35. The stock had a trading volume of 800,711 shares, compared to its average volume of 907,681. The company has a quick ratio of 0.25, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $37.00. The stock has a market cap of $4.98 billion, a PE ratio of -38.59 and a beta of 1.17. The business has a 50 day moving average price of $33.36 and a 200 day moving average price of $29.65.

Brookfield Renewable Dividend Announcement

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 paid a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.3%. Brookfield Renewable's payout ratio is presently -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.