Canada Pension Plan Investment Board Has $55.49 Million Stock Position in Brookfield Renewable Corporation $BEPC

Key Points

• The Canada Pension Plan Investment Board increased its stake in Brookfield Renewable Corporation by 177.4% in the first quarter, now owning approximately 1.37% of the company worth $55.5 million.
• Brookfield Renewable recently announced a quarterly dividend of $0.373 per share, with an annualized yield of 4.4%.
• Analysts have upgraded price targets for Brookfield Renewable, with JPMorgan raising it to $38.00, indicating a positive outlook based on their recent assessments.

Canada Pension Plan Investment Board increased its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 177.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,987,332 shares of the company's stock after buying an additional 1,270,946 shares during the period. Canada Pension Plan Investment Board owned 1.37% of Brookfield Renewable worth $55,486,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in Brookfield Renewable by 16.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,483 shares of the company's stock worth $1,314,000 after buying an additional 6,839 shares during the last quarter. Northern Trust Corp boosted its position in Brookfield Renewable by 52.3% in the 4th quarter. Northern Trust Corp now owns 756,065 shares of the company's stock valued at $20,913,000 after buying an additional 259,519 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of Brookfield Renewable during the fourth quarter worth about $227,000. Anson Funds Management LP acquired a new position in shares of Brookfield Renewable during the fourth quarter worth $830,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Brookfield Renewable during the 4th quarter worth about $216,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Price Performance

NYSE BEPC traded up $0.60 on Thursday, reaching $33.56. The company's stock had a trading volume of 468,723 shares, compared to its average volume of 998,905. The stock has a market cap of $4.86 billion, a PE ratio of -37.70 and a beta of 1.13. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $37.00. The firm's 50 day moving average is $34.25 and its two-hundred day moving average is $30.63. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27.

Brookfield Renewable Dividend Announcement

The company 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. This represents a $1.49 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable's dividend payout ratio (DPR) is presently -167.42%.

Analysts Set New Price Targets

BEPC has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective 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. raised their target price on shares of Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.00.

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.