Invesco Ltd. Has $9.17 Million Holdings in Brookfield Renewable Corporation $BEPC

Key Points

• Invesco Ltd. has reduced its holdings in Brookfield Renewable Corporation by 7.9%, currently owning 328,324 shares valued at approximately $9.17 million.
• Other hedge funds, such as Connor Clark & Lunn Investment Management and Deutsche Bank AG, increased their stakes significantly during the same quarter, with Deutsche Bank boosting its position by nearly 7,429.9%.
• Brookfield Renewable has announced a quarterly dividend of $0.373 per share, reflecting an annual yield of 4.4%, despite a negative dividend payout ratio of -167.42%.

Invesco Ltd. trimmed its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,324 shares of the company's stock after selling 28,316 shares during the quarter. Invesco Ltd. owned about 0.23% of Brookfield Renewable worth $9,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 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 worth $159,596,000 after purchasing an additional 135,776 shares during the period. Principal Financial Group Inc. boosted its position in Brookfield Renewable by 6.0% during the first quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company's stock worth $123,713,000 after purchasing an additional 251,310 shares during the period. Robeco Schweiz AG boosted its position in Brookfield Renewable by 1.7% during the first quarter. Robeco Schweiz AG now owns 2,048,008 shares of the company's stock worth $57,180,000 after purchasing an additional 35,008 shares during the period. Baird Financial Group Inc. boosted its position in Brookfield Renewable by 1.9% during the fourth quarter. Baird Financial Group Inc. now owns 1,930,901 shares of the company's stock worth $53,409,000 after purchasing an additional 36,670 shares during the period. Finally, Scotia Capital Inc. boosted its position in Brookfield Renewable by 4.1% during the first quarter. Scotia Capital Inc. now owns 1,444,156 shares of the company's stock worth $39,777,000 after purchasing an additional 57,202 shares during the period. 75.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

BEPC has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a research report on Tuesday. Wells Fargo & Company reduced their target price on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Brookfield Renewable Stock Performance

Shares of Brookfield Renewable stock traded down $0.72 during trading on Friday, reaching $33.70. The company's stock had a trading volume of 989,666 shares, compared to its average volume of 746,798. The business's 50-day moving average price is $34.20 and its 200-day moving average price is $30.51. The firm has a market cap of $4.88 billion, a PE ratio of -37.87 and a beta of 1.17. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $37.00. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19.

Brookfield Renewable Dividend Announcement

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