Brookfield Renewable Corporation $BEPC Stake Boosted by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Brookfield Renewable stake by 12.8% in the first quarter to 440,255 shares, while other institutional investors also added holdings. Institutions and hedge funds collectively own 75.12% of BEPC.
• Analyst sentiment remains cautious: BEPC has an average “Reduce” rating and a $39 price target, with recent ratings ranging from “sell” to “hold” and JPMorgan lowering its target to $36.
• Brookfield Renewable shares opened at $33.71, while the company declared a quarterly dividend of $0.392 per share, representing a $1.57 annualized payout and a 4.7% yield.

Dimensional Fund Advisors LP increased its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 12.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 440,255 shares of the company's stock after acquiring an additional 50,124 shares during the quarter. Dimensional Fund Advisors LP owned 0.30% of Brookfield Renewable worth $17,529,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Swiss National Bank lifted its stake in shares of Brookfield Renewable by 27.0% in the 1st quarter. Swiss National Bank now owns 463,350 shares of the company's stock valued at $18,439,000 after purchasing an additional 98,600 shares during the last quarter. Arjuna Capital lifted its position in Brookfield Renewable by 7.4% during the 1st quarter. Arjuna Capital now owns 109,560 shares of the company's stock worth $4,364,000 after acquiring an additional 7,573 shares during the last quarter. NFSG Corp boosted its holdings in Brookfield Renewable by 79.4% during the first quarter. NFSG Corp now owns 18,329 shares of the company's stock valued at $730,000 after acquiring an additional 8,111 shares during the period. Diversify Wealth Management LLC bought a new stake in Brookfield Renewable during the first quarter valued at about $1,550,000. Finally, Candriam S.C.A. grew its position in shares of Brookfield Renewable by 522.6% in the first quarter. Candriam S.C.A. now owns 90,330 shares of the company's stock valued at $3,588,000 after purchasing an additional 75,822 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company's stock.

Wall Street Analysts Forecast Growth

BEPC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Brookfield Renewable in a research report on Friday, July 31st. Barclays upped their target price on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Brookfield Renewable from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $39.00.

Brookfield Renewable Stock Up 1.1%

Shares of Brookfield Renewable stock opened at $33.71 on Friday. Brookfield Renewable Corporation has a 1 year low of $31.82 and a 1 year high of $45.18. The business has a 50-day moving average of $35.80 and a two-hundred day moving average of $38.78. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.33 and a current ratio of 0.40.

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.392 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.57 annualized dividend and a dividend yield of 4.7%.

About Brookfield Renewable

Brookfield Renewable Corporation NYSE: BEPC is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company's operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.

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