Brookfield Renewable Corporation (NYSE:BEPC) Shares Purchased by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors increased its stake in Brookfield Renewable Corporation by 28.3%, now owning 43,538 shares valued at approximately $1.2 million.
• Institutional investors hold around 75.12% of Brookfield Renewable's stock, with other firms like JPMorgan Chase and Vanguard Group also boosting their positions in the company.
• Brookfield Renewable recently declared a quarterly dividend of $0.373, reflecting an annualized yield of 4.4%, despite a negative dividend payout ratio of -167.42%.

Arkadios Wealth Advisors boosted its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 28.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,538 shares of the company's stock after purchasing an additional 9,594 shares during the quarter. Arkadios Wealth Advisors' holdings in Brookfield Renewable were worth $1,216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Brookfield Renewable by 2.9% in the fourth quarter. JPMorgan Chase & Co. now owns 588,262 shares of the company's stock valued at $16,271,000 after acquiring an additional 16,304 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Brookfield Renewable by 15.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company's stock valued at $863,000 after acquiring an additional 4,190 shares during the period. Vanguard Group Inc. boosted its holdings 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 valued at $154,464,000 after acquiring an additional 106,880 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Brookfield Renewable by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company's stock valued at $13,533,000 after acquiring an additional 7,415 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Brookfield Renewable by 7.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 586,602 shares of the company's stock worth $16,247,000 after purchasing an additional 41,542 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company cut their price target on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. raised 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.

Brookfield Renewable Price Performance

Brookfield Renewable stock opened at $33.89 on Friday. Brookfield Renewable Corporation has a one year low of $23.73 and a one year high of $37.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 0.25. The business has a fifty day moving average of $32.97 and a two-hundred day moving average of $29.41. The company has a market cap of $4.91 billion, a P/E ratio of -38.08 and a beta of 1.17.

Brookfield Renewable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a $0.373 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.4%. Brookfield Renewable's dividend payout ratio (DPR) is currently -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.

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