Principal Financial Group Inc. Increases Position in Brookfield Renewable Corporation (NYSE:BEPC)

Principal Financial Group Inc. boosted its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,430,978 shares of the company's stock after acquiring an additional 251,310 shares during the quarter. Principal Financial Group Inc. owned about 3.06% of Brookfield Renewable worth $123,713,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BEPC. Moody Lynn & Lieberson LLC acquired a new position in shares of Brookfield Renewable in the 1st quarter valued at about $212,000. New South Capital Management Inc. lifted its holdings in shares of Brookfield Renewable by 65.4% in the 1st quarter. New South Capital Management Inc. now owns 617,219 shares of the company's stock valued at $17,233,000 after buying an additional 244,015 shares during the period. Rossby Financial LCC acquired a new position in shares of Brookfield Renewable in the 1st quarter valued at about $61,000. WASHINGTON TRUST Co acquired a new position in shares of Brookfield Renewable in the 1st quarter valued at about $136,000. Finally, Washington Trust Advisors Inc. lifted its holdings in shares of Brookfield Renewable by 0.8% in the 1st quarter. Washington Trust Advisors Inc. now owns 425,765 shares of the company's stock valued at $11,887,000 after buying an additional 3,239 shares during the period. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Price Performance

Shares of Brookfield Renewable stock traded down $0.80 on Tuesday, hitting $33.06. The company's stock had a trading volume of 759,577 shares, compared to its average volume of 967,474. 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 Corporation has a 1 year low of $23.73 and a 1 year high of $35.14. The firm has a fifty day moving average price of $30.60 and a 200-day moving average price of $28.49. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of -37.15 and a beta of 1.16.

Brookfield Renewable Dividend Announcement

The firm 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. The ex-dividend date was Friday, May 30th. This represents a $1.49 annualized dividend and a dividend yield of 4.51%. Brookfield Renewable's dividend payout ratio is presently -167.42%.

Analyst Upgrades and Downgrades

BEPC has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Barclays initiated coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $31.00 price objective for the company.

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.