American Century Companies Inc. Cuts Holdings in Brookfield Renewable Corporation $BEPC

Key Points

• American Century Companies Inc. has reduced its stake in Brookfield Renewable Corporation by 46.9%, now holding 89,066 shares worth approximately $2.5 million.
• The company declared a quarterly dividend of $0.373 per share, with a dividend yield of 4.4%, set to be paid on September 30th.
• Analysts remain optimistic about Brookfield Renewable, with ratings ranging from "Buy" to "Moderate Buy" and an average price target set at $35.00.

American Century Companies Inc. lowered its position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 46.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,066 shares of the company's stock after selling 78,738 shares during the period. American Century Companies Inc. owned approximately 0.06% of Brookfield Renewable worth $2,486,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Brookfield Renewable by 15.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company's stock valued at $863,000 after buying an additional 4,190 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Brookfield Renewable by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company's stock valued at $13,533,000 after buying an additional 7,415 shares during the last quarter. LPL Financial LLC grew its holdings in Brookfield Renewable by 91.9% during the 1st quarter. LPL Financial LLC now owns 64,108 shares of the company's stock valued at $1,790,000 after buying an additional 30,704 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Brookfield Renewable during the 4th quarter valued at $216,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Brookfield Renewable during the 1st quarter valued at $532,000. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Trading Down 1.3%

Shares of BEPC stock traded down $0.42 during mid-day trading on Friday, hitting $33.20. 1,125,462 shares of the company's stock were exchanged, compared to its average volume of 712,353. Brookfield Renewable Corporation has a fifty-two week low of $23.73 and a fifty-two week high of $37.00. The stock has a 50-day simple moving average of $34.28 and a two-hundred day simple moving average of $30.70. 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 market cap of $4.81 billion, a price-to-earnings ratio of -37.30 and a beta of 1.13.

Brookfield Renewable Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley increased their target price on 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. increased their target price on Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.00.

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.