Scotia Capital Inc. Increases Position in Brookfield Renewable Corporation (NYSE:BEPC)

Key Points

• Scotia Capital Inc. increased its stake in Brookfield Renewable Corporation by 4.1%, acquiring an additional 57,202 shares, bringing its total ownership to 1,444,156 shares valued at approximately $39.8 million.
• Brookfield Renewable recently announced a quarterly dividend of $0.373 per share, resulting in an annualized yield of 4.4%, despite a negative payout ratio of -167.42%.
• Analysts have mixed views on Brookfield Renewable's stock, with JPMorgan Chase & Co. raising its price target to $38.00 while Wells Fargo reduced it to $32.00.

Scotia Capital Inc. grew its stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,444,156 shares of the company's stock after purchasing an additional 57,202 shares during the quarter. Scotia Capital Inc. owned approximately 1.00% of Brookfield Renewable worth $39,777,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Brookfield Renewable by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 588,262 shares of the company's stock valued at $16,271,000 after buying an additional 16,304 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Brookfield Renewable by 15.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company's stock valued at $863,000 after acquiring an additional 4,190 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Brookfield Renewable by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company's stock valued at $154,464,000 after purchasing an additional 106,880 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Brookfield Renewable by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company's stock valued at $13,533,000 after purchasing an additional 7,415 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Brookfield Renewable by 7.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 586,602 shares of the company's stock valued at $16,247,000 after buying an additional 41,542 shares during the period. 75.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on BEPC. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company lowered their price target on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th.

Brookfield Renewable Stock Up 1.3%

NYSE BEPC traded up $0.45 on Thursday, hitting $34.47. 140,469 shares of the stock were exchanged, compared to its average volume of 1,029,609. Brookfield Renewable Corporation has a fifty-two week low of $23.73 and a fifty-two week high of $37.00. The company has a market cap of $4.99 billion, a PE ratio of -38.64 and a beta of 1.17. The company has a quick ratio of 0.25, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average price of $33.26 and a 200-day moving average price of $29.59.

Brookfield Renewable Dividend Announcement

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. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.3%. Brookfield Renewable's payout ratio is -167.42%.

Brookfield Renewable Company 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.