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

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Brookfield Renewable during the fourth quarter valued at $47,478,000. ClearBridge Investments Ltd lifted its position in Brookfield Renewable by 31.1% during the fourth quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company's stock valued at $80,071,000 after purchasing an additional 686,319 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in Brookfield Renewable by 27.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company's stock valued at $62,295,000 after purchasing an additional 490,448 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in Brookfield Renewable by 135.0% during the fourth quarter. Voloridge Investment Management LLC now owns 668,096 shares of the company's stock valued at $18,480,000 after acquiring an additional 383,787 shares during the period. Finally, Gotham Asset Management LLC increased its holdings in shares of Brookfield Renewable by 77.1% in the fourth quarter. Gotham Asset Management LLC now owns 812,871 shares of the company's stock worth $22,484,000 after purchasing an additional 354,008 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Price Performance

Shares of BEPC stock traded up $1.04 during mid-day trading on Friday, hitting $36.34. 1,350,388 shares of the stock were exchanged, compared to its average volume of 974,767. The firm has a fifty day moving average of $31.59 and a 200 day moving average of $28.83. 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 Corporation has a 52-week low of $23.73 and a 52-week high of $36.45. The company has a market cap of $5.27 billion, a PE ratio of -40.83 and a beta of 1.16.

Brookfield Renewable Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Friday, May 30th. Brookfield Renewable's dividend payout ratio is presently -167.42%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Barclays assumed coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $31.00 price target for the company.

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.