Gulf International Bank UK Ltd Purchases 7,734 Shares of Brookfield Renewable Corporation $BEPC

Key Points

• Gulf International Bank UK Ltd significantly increased its stake in Brookfield Renewable Corporation by 3,468.2%, acquiring an additional 7,734 shares to total 7,957 shares worth approximately $222,000.
• The company recently announced a quarterly dividend of $0.373 per share, resulting in an annualized yield of 4.5%, with the dividend payment scheduled for September 30th.
• Analyst ratings for Brookfield Renewable have varied, with JPMorgan raising its price target to $38.00 while Wells Fargo has set a lower target of $32.00.

Gulf International Bank UK Ltd boosted its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 3,468.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,957 shares of the company's stock after purchasing an additional 7,734 shares during the period. Gulf International Bank UK Ltd's holdings in Brookfield Renewable were worth $222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted 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 in 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 valued at $123,713,000 after acquiring an additional 251,310 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Brookfield Renewable by 27.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company's stock valued at $62,295,000 after acquiring an additional 490,448 shares in 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 valued at $57,180,000 after acquiring an additional 35,008 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Brookfield Renewable by 1.9% in the fourth quarter. Baird Financial Group Inc. now owns 1,930,901 shares of the company's stock valued at $53,409,000 after acquiring an additional 36,670 shares in the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BEPC shares. Wells Fargo & Company lowered their price objective on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.67.

Brookfield Renewable Trading Down 0.0%

Shares of BEPC traded down $0.0050 during mid-day trading on Thursday, reaching $33.4250. 379,548 shares of the company's stock traded hands, compared to its average volume of 1,014,831. The stock has a market cap of $4.84 billion, a P/E ratio of -37.59 and a beta of 1.17. The stock's 50-day moving average is $33.92 and its two-hundred day moving average is $30.16. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $37.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.27 and a quick ratio of 0.27.

Brookfield Renewable Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.5%. Brookfield Renewable's dividend payout ratio is currently -167.42%.

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.