Bank of New York Mellon Corp Increases Holdings in Brookfield Renewable Corporation (NYSE:BEPC)

Bank of New York Mellon Corp grew its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,723 shares of the company's stock after purchasing an additional 7,415 shares during the quarter. Bank of New York Mellon Corp owned about 0.33% of Brookfield Renewable worth $13,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. 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 valued at $35,000 after purchasing an additional 374 shares in the last quarter. Dunhill Financial LLC bought a new stake in Brookfield Renewable during the 4th quarter valued at $41,000. Measured Risk Portfolios Inc. bought a new stake in Brookfield Renewable during the 4th quarter valued at $52,000. Quadrant Capital Group LLC increased its stake in Brookfield Renewable by 152.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,013 shares of the company's stock valued at $56,000 after purchasing an additional 1,217 shares in the last quarter. Finally, Tsfg LLC increased its stake in Brookfield Renewable by 97.9% during the 1st quarter. Tsfg LLC now owns 2,050 shares of the company's stock valued at $57,000 after purchasing an additional 1,014 shares in the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BEPC has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday. Barclays started coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $31.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th.

Brookfield Renewable Price Performance

NYSE:BEPC traded up $0.43 during trading hours on Wednesday, hitting $36.93. 630,861 shares of the company's stock traded hands, compared to its average volume of 974,402. The firm has a market cap of $5.35 billion, a P/E ratio of -41.50 and a beta of 1.16. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $36.95. The business's fifty day simple moving average is $31.87 and its two-hundred day simple moving average is $28.94. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.03.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Renewable's dividend payout ratio (DPR) is currently -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.