AXQ Capital LP Acquires 38,134 Shares of Brookfield Renewable Corporation $BEPC

Key Points

• AXQ Capital LP nearly doubled its Brookfield Renewable stake in the second quarter, purchasing 38,134 additional shares to bring its holdings to 77,104 shares valued at approximately $2.86 million.
• Brookfield Renewable shares opened at $31.47, near their 12-month low of $30.91, while the company announced a quarterly dividend of $0.392 per share, representing a 5.0% annualized yield.
• Analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating, with two Holds and two Sells and an average price target of $39.00.

AXQ Capital LP boosted its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 97.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,104 shares of the company's stock after buying an additional 38,134 shares during the period. AXQ Capital LP owned approximately 0.05% of Brookfield Renewable worth $2,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Motiv8 Investments LLC acquired a new position in Brookfield Renewable in the fourth quarter valued at about $25,000. Allied Private Wealth LLC acquired a new stake in shares of Brookfield Renewable in the 2nd quarter valued at approximately $27,000. SHP Wealth Management bought a new position in Brookfield Renewable during the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Brookfield Renewable during the 2nd quarter worth approximately $33,000. Finally, NewEdge Advisors LLC acquired a new position in Brookfield Renewable during the first quarter valued at approximately $33,000. 75.12% of the stock is owned by institutional investors.

Brookfield Renewable Stock Performance

Shares of BEPC opened at $31.47 on Friday. Brookfield Renewable Corporation has a 12 month low of $30.91 and a 12 month high of $45.18. The firm has a fifty day simple moving average of $34.14 and a 200 day simple moving average of $37.74. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.40.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 5.0%. The ex-dividend date is Monday, August 31st.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BEPC shares. JPMorgan Chase & Co. decreased their target price on Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Wall Street Zen cut shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a report on Sunday, August 9th. Finally, Barclays upped their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $39.00.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation NYSE: BEPC is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company's operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.

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