Northern Trust Corp Buys 843,210 Shares of Brookfield Renewable Corporation $BEPC

Key Points

• Northern Trust Corp increased its stake in Brookfield Renewable Corporation by 111.5%, acquiring an additional 843,210 shares to own a total of 1,599,275 shares worth approximately $44.65 million.
• Brookfield Renewable has recently declared a quarterly dividend of $0.373, representing an annualized yield of 4.4%, with the ex-dividend date set for August 29th.
• Analysts have mixed ratings on Brookfield Renewable, with target prices ranging from $32.00 to $39.00, suggesting a consensus rating of "Moderate Buy."

Northern Trust Corp increased its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 111.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,599,275 shares of the company's stock after acquiring an additional 843,210 shares during the period. Northern Trust Corp owned 1.10% of Brookfield Renewable worth $44,652,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its holdings 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 worth $35,000 after purchasing an additional 374 shares during the last quarter. Comprehensive Money Management Services LLC lifted its holdings in Brookfield Renewable by 3.3% in the 1st quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company's stock worth $394,000 after purchasing an additional 445 shares during the last quarter. CWM LLC lifted its holdings in Brookfield Renewable by 14.6% in the 1st quarter. CWM LLC now owns 4,058 shares of the company's stock worth $113,000 after purchasing an additional 516 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Brookfield Renewable by 0.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 71,292 shares of the company's stock worth $1,986,000 after purchasing an additional 579 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in Brookfield Renewable by 0.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 198,881 shares of the company's stock worth $5,553,000 after purchasing an additional 916 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BEPC shares. Wells Fargo & Company reduced their target price on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Morgan Stanley boosted their target price on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, 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 report on Tuesday, July 22nd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Brookfield Renewable currently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC opened at $34.22 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The business's 50 day moving average is $34.10 and its two-hundred day moving average is $30.41. The company has a market cap of $4.96 billion, a P/E ratio of -38.45 and a beta of 1.17. 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. Shareholders of record on Friday, August 29th will be given a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable's payout ratio is currently -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.

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