Federation des caisses Desjardins du Quebec Has $15.40 Million Stock Position in Brookfield Renewable Corporation $BEPC

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Brookfield Renewable Corporation by 30.1%, selling 240,685 shares and holding a total of 559,106 shares worth approximately $15.4 million after the sale.
• Brookfield Renewable has recently declared a quarterly dividend of $0.373 per share, resulting in an annualized dividend yield of 4.5%, with a payout ratio of -167.42%.
• Institutional investors currently own 75.12% of Brookfield Renewable's stock, indicating strong institutional support despite some recent sell-offs, with analysts having set a consensus target price of $35.00 for the stock.

Federation des caisses Desjardins du Quebec decreased its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 30.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 559,106 shares of the company's stock after selling 240,685 shares during the period. Federation des caisses Desjardins du Quebec owned 0.39% of Brookfield Renewable worth $15,402,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Brookfield Renewable by 2.4% during the first quarter. Vanguard Group Inc. now owns 5,717,397 shares of the company's stock valued at $159,596,000 after purchasing an additional 135,776 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of Brookfield Renewable by 24.2% in the first quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company's stock worth $135,574,000 after buying an additional 945,297 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Renewable by 6.0% in the first quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company's stock worth $123,713,000 after buying an additional 251,310 shares during the last quarter. Robeco Schweiz AG lifted its position in shares of Brookfield Renewable by 1.7% in the first quarter. Robeco Schweiz AG now owns 2,048,008 shares of the company's stock worth $57,180,000 after buying an additional 35,008 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Brookfield Renewable by 4.7% in the first quarter. Baird Financial Group Inc. now owns 2,022,268 shares of the company's stock worth $56,462,000 after buying an additional 91,367 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Stock Performance

Brookfield Renewable stock traded down $0.08 during trading hours on Monday, hitting $33.13. The stock had a trading volume of 199,500 shares, compared to its average volume of 997,865. The company has a 50-day moving average of $34.28 and a two-hundred day moving average of $30.72. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The company has a market cap of $4.80 billion, a PE ratio of -37.22 and a beta of 1.13. Brookfield Renewable Corporation has a fifty-two week low of $23.73 and a fifty-two week high of $37.00.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be issued a $0.373 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 annualized dividend and a yield of 4.5%. Brookfield Renewable's dividend payout ratio is -167.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BEPC. JPMorgan Chase & Co. boosted their price target on Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Morgan Stanley boosted their price target on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Brookfield Renewable 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.