Meeder Asset Management Inc. Buys 42,186 Shares of Brookfield Renewable Corporation (NYSE:BEPC)

Key Points

• Meeder Asset Management Inc. has significantly increased its stake in Brookfield Renewable Corporation by 225.8%, acquiring an additional 42,186 shares in the first quarter, raising its total holdings to 60,871 shares valued at approximately $1.7 million.
• Several institutional investors have also increased their positions in Brookfield Renewable, with LPL Financial LLC raising its stake by 91.9% and new investments from companies such as Mediolanum International Funds Ltd and Neo Ivy Capital Management.
• The company declared a quarterly dividend of $0.373, translating to an annualized yield of 4.05%, despite a negative dividend payout ratio of -167.42%.

Meeder Asset Management Inc. lifted its position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 225.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,871 shares of the company's stock after buying an additional 42,186 shares during the quarter. Meeder Asset Management Inc.'s holdings in Brookfield Renewable were worth $1,700,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BEPC. LPL Financial LLC lifted its position in shares of Brookfield Renewable by 91.9% in the first quarter. LPL Financial LLC now owns 64,108 shares of the company's stock valued at $1,790,000 after buying an additional 30,704 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in Brookfield Renewable during the first quarter worth $148,000. Neo Ivy Capital Management acquired a new position in shares of Brookfield Renewable in the first quarter valued at $1,567,000. Cetera Investment Advisers raised its position in shares of Brookfield Renewable by 17.2% in the first quarter. Cetera Investment Advisers now owns 22,196 shares of the company's stock valued at $620,000 after purchasing an additional 3,252 shares during the period. Finally, Argonautica Private Wealth Management Inc. lifted its stake in shares of Brookfield Renewable by 39.9% during the 1st quarter. Argonautica Private Wealth Management Inc. now owns 36,272 shares of the company's stock worth $1,013,000 after buying an additional 10,342 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BEPC shares. JPMorgan Chase & Co. increased their price target 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. Wells Fargo & Company dropped their price target on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th.

Brookfield Renewable Stock Performance

Shares of BEPC stock traded down $2.52 on Friday, hitting $34.11. The company's stock had a trading volume of 876,180 shares, compared to its average volume of 1,036,477. Brookfield Renewable Corporation has a fifty-two week low of $23.73 and a fifty-two week high of $37.00. The company has a market capitalization of $4.94 billion, a PE ratio of -38.32 and a beta of 1.16. The stock's 50 day moving average is $32.87 and its 200-day moving average is $29.36. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 0.25.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were paid a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, May 30th. 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.