Brown Advisory Inc. Buys New Position in Brookfield Renewable Corporation (NYSE:BEPC)

Brown Advisory Inc. acquired a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 61,417 shares of the company's stock, valued at approximately $1,714,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Curio Wealth LLC acquired a new stake in shares of Brookfield Renewable during the 4th quarter valued at approximately $26,000. Atala Financial Inc bought a new stake in Brookfield Renewable during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Brookfield Renewable by 43.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock worth $35,000 after purchasing an additional 374 shares during the period. Dunhill Financial LLC bought a new position in shares of Brookfield Renewable in the 4th quarter worth about $41,000. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of Brookfield Renewable in the 4th quarter valued at about $52,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Stock Performance

NYSE:BEPC traded down $0.27 during mid-day trading on Wednesday, hitting $35.04. The stock had a trading volume of 851,701 shares, compared to its average volume of 1,054,869. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03. The company has a 50 day simple moving average of $31.15 and a 200-day simple moving average of $28.67. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -39.37 and a beta of 1.16. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $35.58.

Brookfield Renewable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 4.26%. The ex-dividend date was Friday, May 30th. Brookfield Renewable's dividend payout ratio is currently -167.42%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Barclays started coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $31.00 price target on the stock.

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.