Baillie Gifford & Co. Sells 100,811 Shares of Brookfield Renewable Corporation (NYSE:BEPC)

Key Points

• Baillie Gifford & Co. has reduced its position in Brookfield Renewable Corporation by 15.2%, now holding 562,266 shares valued at approximately $15.7 million.
• Despite this reduction, other hedge funds have increased their stakes in Brookfield Renewable, with Commonwealth Equity Services' holdings rising by 164.4% during the fourth quarter.
• Brookfield Renewable recently announced a quarterly dividend of $0.373 per share, translating to an annualized dividend yield of 4.10%.

Baillie Gifford & Co. trimmed its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 15.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 562,266 shares of the company's stock after selling 100,811 shares during the period. Baillie Gifford & Co. owned approximately 0.39% of Brookfield Renewable worth $15,698,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BEPC. JPMorgan Chase & Co. grew its position in Brookfield Renewable by 2.9% in 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 period. Wealth Enhancement Advisory Services LLC raised its stake 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 worth $863,000 after purchasing an additional 4,190 shares during the period. Vanguard Group Inc. increased its holdings in Brookfield Renewable by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company's stock worth $154,464,000 after acquiring an additional 106,880 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Brookfield Renewable by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company's stock worth $13,533,000 after acquiring an additional 7,415 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Brookfield Renewable by 7.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 586,602 shares of the company's stock worth $16,247,000 after acquiring an additional 41,542 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Trading Up 1.2%

BEPC stock traded up $0.43 on Wednesday, reaching $36.86. The company's stock had a trading volume of 198,806 shares, compared to its average volume of 1,031,722. The business has a fifty day simple moving average of $32.55 and a two-hundred day simple moving average of $29.24. Brookfield Renewable Corporation has a 12-month low of $23.73 and a 12-month high of $36.96. The firm has a market cap of $5.34 billion, a PE ratio of -41.44 and a beta of 1.16. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 0.25.

Brookfield Renewable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Friday, May 30th. Brookfield Renewable's payout ratio is -167.42%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lifted 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. Barclays began coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 price objective for the company. Finally, Wells Fargo & Company dropped their price objective on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, May 5th.

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.