Millennium Management LLC Acquires 91,549 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Millennium Management LLC increased its holdings in Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 408,254 shares of the company's stock after purchasing an additional 91,549 shares during the quarter. Millennium Management LLC owned approximately 0.28% of Brookfield Renewable worth $11,292,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Brookfield Renewable by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company's stock worth $154,464,000 after purchasing an additional 106,880 shares during the last quarter. Parnassus Investments LLC grew its stake in shares of Brookfield Renewable by 46.6% in the fourth quarter. Parnassus Investments LLC now owns 3,910,496 shares of the company's stock worth $108,164,000 after purchasing an additional 1,242,858 shares during the last quarter. ClearBridge Investments Ltd boosted 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 acquiring an additional 686,319 shares during the last quarter. Epoch Investment Partners Inc. boosted 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 acquiring an additional 490,448 shares during the last quarter. Finally, Robeco Schweiz AG bought a new stake in Brookfield Renewable during the fourth quarter valued at $55,680,000. Institutional investors own 75.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BEPC shares. Barclays started coverage on shares of Brookfield Renewable in a research report on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th.

Brookfield Renewable Stock Down 0.7%

Shares of BEPC stock traded down $0.22 on Thursday, reaching $29.46. 129,426 shares of the company were exchanged, compared to its average volume of 1,067,608. The company has a market cap of $4.27 billion, a price-to-earnings ratio of -33.10 and a beta of 1.15. The company has a 50-day moving average of $27.97 and a 200-day moving average of $28.22. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.27 and a quick ratio of 0.51. Brookfield Renewable Co. has a one year low of $23.73 and a one year high of $35.14.

Brookfield Renewable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.373 per share. The ex-dividend date is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.06%. Brookfield Renewable's dividend payout ratio (DPR) is presently -167.42%.

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.