Mirova Cuts Position in Brookfield Renewable Corporation $BEPC

Key Points

• Mirova has reduced its stake in Brookfield Renewable Corporation by 15.0%, selling 12,000 shares during the first quarter, leaving it with 68,243 shares valued at approximately $1.9 million.
• The stock price of Brookfield Renewable has seen a 2.4% increase, with its current trading value at about $34.18, while the company maintains a market cap of $4.95 billion.
• Brookfield Renewable recently declared a quarterly dividend of $0.373 per share, resulting in an annualized dividend yield of 4.4%, despite a payout ratio of -167.42%.

Mirova cut its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,243 shares of the company's stock after selling 12,000 shares during the period. Mirova's holdings in Brookfield Renewable were worth $1,905,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. New England Capital Financial Advisors LLC acquired a new stake in Brookfield Renewable in the first quarter valued at $28,000. Monetary Management Group Inc. bought a new position in shares of Brookfield Renewable during the 1st quarter worth about $28,000. MassMutual Private Wealth & Trust FSB lifted its position in Brookfield Renewable by 43.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock valued at $35,000 after acquiring an additional 374 shares in the last quarter. Dunhill Financial LLC bought a new position in Brookfield Renewable in the 4th quarter valued at about $41,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in Brookfield Renewable in the 4th quarter valued at about $52,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BEPC has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company cut their price target on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, 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 report on Tuesday. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Brookfield Renewable currently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Brookfield Renewable Trading Down 0.9%

Shares of NYSE:BEPC traded down $0.31 during midday trading on Friday, hitting $33.74. 294,277 shares of the stock traded hands, compared to its average volume of 997,841. The stock has a market capitalization of $4.89 billion, a PE ratio of -37.93 and a beta of 1.17. The business's 50 day moving average is $34.15 and its two-hundred day moving average is $30.46. 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 Corporation has a one year low of $23.73 and a one year high of $37.00.

Brookfield Renewable Announces Dividend

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 dividend payout ratio is presently -167.42%.

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.