Foresight Group Ltd Liability Partnership Acquires New Position in Brookfield Renewable Corporation $BEPC

Key Points

• Foresight Group Ltd Liability Partnership acquired 226,733 shares of Brookfield Renewable Corporation, worth approximately $6.34 million, during the first quarter of this year.
• Brookfield Renewable Corporation recently declared a quarterly dividend of $0.373 per share, providing an annualized yield of 4.4% for its shareholders.
• Analysts have upgraded Brookfield Renewable's stock, with JPMorgan and Morgan Stanley raising their price targets to $38.00 and $39.00, respectively, indicating a strong sentiment towards the stock.

Foresight Group Ltd Liability Partnership acquired a new position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 226,733 shares of the company's stock, valued at approximately $6,338,000. Foresight Group Ltd Liability Partnership owned approximately 0.16% of Brookfield Renewable at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BEPC. Schonfeld Strategic Advisors LLC purchased a new stake in Brookfield Renewable during the 4th quarter valued at approximately $227,000. BNP Paribas Financial Markets bought a new position in shares of Brookfield Renewable during the 4th quarter valued at approximately $216,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Brookfield Renewable in the fourth quarter valued at $208,000. Millennium Management LLC raised its position in Brookfield Renewable by 28.9% in the 4th quarter. Millennium Management LLC now owns 408,254 shares of the company's stock worth $11,292,000 after purchasing an additional 91,549 shares during the period. Finally, Nia Impact Advisors LLC lifted its stake in shares of Brookfield Renewable by 10.4% during the 4th quarter. Nia Impact Advisors LLC now owns 124,701 shares of the company's stock worth $3,449,000 after acquiring an additional 11,766 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company's stock.

Brookfield Renewable Price Performance

NYSE BEPC opened at $33.74 on Thursday. The firm's fifty day simple moving average is $34.32 and its two-hundred day simple moving average is $30.80. The firm has a market capitalization of $4.89 billion, a P/E ratio of -37.91 and a beta of 1.13. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. Brookfield Renewable Corporation has a 12-month low of $23.73 and a 12-month high of $37.00.

Brookfield Renewable Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.4%. Brookfield Renewable's payout ratio is presently -167.42%.

Analyst Ratings Changes

BEPC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a 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 research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.

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