Brookfield Renewable Corporation $BEPC Stock Position Lifted by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Brookfield Renewable stake by 7.1% in the first quarter, bringing its holdings to 1.34 million shares valued at approximately $53.4 million. Institutional investors collectively own 75.12% of the company.
• Analyst sentiment remains cautious: Brookfield Renewable has a consensus “Reduce” rating, with two Hold ratings and two Sell ratings and an average price target of $39.67.
• BEPC shares opened at $33.41, while the company announced a quarterly dividend of $0.392 per share, equivalent to an annualized $1.57 dividend and a 4.7% yield.

Royal Bank of Canada lifted its position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,341,387 shares of the company's stock after acquiring an additional 89,430 shares during the quarter. Royal Bank of Canada owned 0.91% of Brookfield Renewable worth $53,428,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Clearbridge Investments LLC increased its stake in Brookfield Renewable by 103.3% during the fourth quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company's stock valued at $353,183,000 after purchasing an additional 4,681,203 shares during the last quarter. Norges Bank acquired a new stake in Brookfield Renewable during the fourth quarter worth about $68,132,000. UBS Group AG lifted its holdings in Brookfield Renewable by 225.2% in the fourth quarter. UBS Group AG now owns 1,802,162 shares of the company's stock worth $69,095,000 after acquiring an additional 1,247,953 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Brookfield Renewable by 49.6% in the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company's stock valued at $97,457,000 after acquiring an additional 985,442 shares during the period. Finally, Gotham Asset Management LLC grew its holdings in shares of Brookfield Renewable by 128.4% during the fourth quarter. Gotham Asset Management LLC now owns 1,287,302 shares of the company's stock valued at $49,355,000 after purchasing an additional 723,692 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BEPC. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $38.00 price target on shares of Brookfield Renewable in a report on Tuesday, July 21st. Weiss Ratings cut Brookfield Renewable from a "sell (d)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Barclays upped their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded shares of Brookfield Renewable from a "sell" rating to a "hold" rating in a research report on Saturday. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $39.67.

Brookfield Renewable Trading Up 0.2%

Shares of Brookfield Renewable stock opened at $33.41 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.81. Brookfield Renewable Corporation has a 1-year low of $31.82 and a 1-year high of $45.18. The business's fifty day moving average price is $36.35 and its two-hundred day moving average price is $38.97.

Brookfield Renewable Announces Dividend

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

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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