Quantbot Technologies LP Buys 77,557 Shares of Brookfield Renewable Corporation $BEPC

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 holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 4,090.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,453 shares of the company's stock after purchasing an additional 77,557 shares during the quarter. Quantbot Technologies LP owned 0.05% of Brookfield Renewable worth $2,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. ASR Vermogensbeheer N.V. bought a new stake in shares of Brookfield Renewable during the 1st quarter valued at approximately $25,186,000. Northern Trust Corp grew its holdings in Brookfield Renewable by 111.5% during the 1st quarter. Northern Trust Corp now owns 1,599,275 shares of the company's stock worth $44,652,000 after acquiring an additional 843,210 shares during the last quarter. Nuveen LLC bought a new stake in Brookfield Renewable during the 1st quarter worth approximately $11,486,000. Voloridge Investment Management LLC lifted its position in shares of Brookfield Renewable by 135.0% in the 4th quarter. Voloridge Investment Management LLC now owns 668,096 shares of the company's stock worth $18,480,000 after purchasing an additional 383,787 shares during the period. Finally, Gotham Asset Management LLC lifted its position in shares of Brookfield Renewable by 77.1% in the 4th quarter. Gotham Asset Management LLC now owns 812,871 shares of the company's stock worth $22,484,000 after purchasing an additional 354,008 shares during the period. Institutional investors and hedge funds own 75.12% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on BEPC shares. JPMorgan Chase & Co. increased their target price 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. Morgan Stanley upped 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. Finally, Wells Fargo & Company lowered their target price 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. Three 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Brookfield Renewable Price Performance

Shares of BEPC stock traded up $0.47 during trading hours on Tuesday, reaching $34.00. The stock had a trading volume of 145,789 shares, compared to its average volume of 1,004,511. The stock's fifty day simple moving average is $34.01 and its 200 day simple moving average is $30.35. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $37.00. The firm has a market capitalization of $4.93 billion, a PE ratio of -38.26 and a beta of 1.17.

Brookfield Renewable Announces Dividend

The business also recently announced 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 (DPR) 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.