Brookfield Renewable Corporation $BEPC Stake Increased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its stake in Brookfield Renewable Corporation, buying an additional 77,557 shares, bringing its total ownership to approximately 0.05% valued at $2.2 million.
• Several institutional investors, including MassMutual and Oppenheimer & Co., have also recently increased their positions in Brookfield Renewable, indicating strong interest among institutional investors.
• The company announced a quarterly dividend of $0.373 per share with a yield of 4.5%, despite a negative dividend payout ratio of -167.42%.

Quantbot Technologies LP boosted its position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 4,090.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,453 shares of the company's stock after acquiring an additional 77,557 shares during the quarter. Quantbot Technologies LP owned 0.05% of Brookfield Renewable worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Brookfield Renewable by 43.0% in the first 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 during the last quarter. Comprehensive Money Management Services LLC lifted its position in Brookfield Renewable by 3.3% during the first quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company's stock valued at $394,000 after buying an additional 445 shares in the last quarter. CWM LLC lifted its position in Brookfield Renewable by 14.6% during the first quarter. CWM LLC now owns 4,058 shares of the company's stock valued at $113,000 after buying an additional 516 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Brookfield Renewable by 0.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 71,292 shares of the company's stock valued at $1,986,000 after buying an additional 579 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Brookfield Renewable by 0.5% during the first quarter. Oppenheimer & Co. Inc. now owns 198,881 shares of the company's stock valued at $5,553,000 after buying an additional 916 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Stock Up 2.4%

Shares of NYSE BEPC traded up $0.7940 during trading on Friday, reaching $34.1840. 397,488 shares of the stock were exchanged, compared to its average volume of 814,291. The business's 50-day moving average price is $33.98 and its 200 day moving average price is $30.29. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month 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. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of -38.41 and a beta of 1.17.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable's payout ratio is presently -167.42%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BEPC shares. Wells Fargo & Company reduced their price target on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. lifted their price target 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. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.67.

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.