Royal Bank of Canada Has $29.60 Million Holdings in Brookfield Renewable Corporation $BEPC

Royal Bank of Canada reduced its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,060,198 shares of the company's stock after selling 88,483 shares during the quarter. Royal Bank of Canada owned 0.73% of Brookfield Renewable worth $29,602,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. MAI Capital Management raised its stake in Brookfield Renewable by 59.0% during the 1st quarter. MAI Capital Management now owns 951 shares of the company's stock valued at $27,000 after purchasing an additional 353 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised 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 during the last quarter. Comprehensive Money Management Services LLC raised its stake in Brookfield Renewable by 3.3% during the 1st quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company's stock valued at $394,000 after purchasing an additional 445 shares during the last quarter. CWM LLC raised its stake in Brookfield Renewable by 14.6% during the 1st quarter. CWM LLC now owns 4,058 shares of the company's stock valued at $113,000 after purchasing an additional 516 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Brookfield Renewable by 0.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 71,292 shares of the company's stock valued at $1,986,000 after buying an additional 579 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BEPC shares. Morgan Stanley boosted their price target on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $35.00.

Brookfield Renewable Price Performance

NYSE:BEPC traded up $0.10 on Friday, reaching $33.98. The stock had a trading volume of 554,920 shares, compared to its average volume of 714,610. The company has a market capitalization of $4.92 billion, a P/E ratio of -38.18 and a beta of 1.13. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $37.00. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The stock has a fifty day moving average price of $34.32 and a 200-day moving average price of $30.87.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be given a $0.373 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a yield of 4.4%. Brookfield Renewable's payout ratio 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.