Brookfield Renewable Corporation $BEPC Shares Acquired by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. increased its stake in Brookfield Renewable Corporation by 4.7%, acquiring an additional 91,367 shares, bringing its total ownership to over 2 million shares valued at approximately $56.5 million.
• Several institutional investors also modified their holdings, with 75.12% of Brookfield Renewable's stock currently owned by institutional investors.
• Brookfield Renewable recently declared a quarterly dividend of $0.373, yielding 4.4%, with the ex-dividend date set for August 29th.

Baird Financial Group Inc. increased its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,022,268 shares of the company's stock after purchasing an additional 91,367 shares during the period. Baird Financial Group Inc. owned 1.40% of Brookfield Renewable worth $56,462,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BEPC. New England Capital Financial Advisors LLC acquired a new position in Brookfield Renewable in the first quarter valued at $28,000. Monetary Management Group Inc. purchased a new position in shares of Brookfield Renewable in the 1st quarter worth about $28,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Brookfield Renewable by 43.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock worth $35,000 after purchasing an additional 374 shares during the period. Dunhill Financial LLC purchased a new position in shares of Brookfield Renewable in the 4th quarter worth about $41,000. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of Brookfield Renewable during the 4th quarter valued at $52,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BEPC has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Morgan Stanley raised their price objective on Brookfield Renewable from $38.00 to $39.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Brookfield Renewable Stock Down 1.7%

NYSE BEPC traded down $0.59 during mid-day trading on Friday, reaching $33.04. 474,008 shares of the company's stock traded hands, compared to its average volume of 998,639. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $37.00. The company has a fifty day simple moving average of $34.27 and a 200-day simple moving average of $30.67. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. The company has a market cap of $4.79 billion, a price-to-earnings ratio of -37.10 and a beta of 1.13.

Brookfield Renewable Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, August 29th. Brookfield Renewable's dividend payout ratio (DPR) is -167.42%.

Brookfield Renewable Company 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.