Strs Ohio Invests $2.10 Million in Brookfield Renewable Corporation $BEPC

Key Points

• Strs Ohio has acquired a $2.10 million position in Brookfield Renewable Corporation, purchasing 75,237 shares, which represents approximately 0.05% of the company's stock.
• Brookfield Renewable announced a quarterly dividend of $0.373 per share, with an annualized dividend yield of 4.3%.
• JPMorgan and Morgan Stanley have upgraded their price targets for Brookfield Renewable to $38.00 and $39.00, respectively, indicating a positive outlook for the stock.

Strs Ohio purchased a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 75,237 shares of the company's stock, valued at approximately $2,100,000. Strs Ohio owned about 0.05% of Brookfield Renewable at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BEPC. MAI Capital Management lifted its holdings in Brookfield Renewable by 59.0% during the 1st quarter. MAI Capital Management now owns 951 shares of the company's stock valued at $27,000 after purchasing an additional 353 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in Brookfield Renewable during the 1st quarter worth $28,000. Monetary Management Group Inc. bought a new position in Brookfield Renewable during the 1st quarter worth $28,000. MassMutual Private Wealth & Trust FSB increased its position in Brookfield Renewable by 43.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock worth $35,000 after buying an additional 374 shares during the period. Finally, SVB Wealth LLC bought a new position in Brookfield Renewable during the 1st quarter worth $52,000. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Stock Performance

NYSE:BEPC traded down $0.88 during trading on Friday, reaching $33.76. The company's stock had a trading volume of 1,044,869 shares, compared to its average volume of 700,039. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of -37.93 and a beta of 1.13. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $37.00. The firm has a 50 day moving average of $34.41 and a 200-day moving average of $31.11.

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 issued a $0.373 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 4.4%. Brookfield Renewable's dividend payout ratio (DPR) is presently -167.42%.

Analysts Set New Price Targets

Several research analysts have weighed in on BEPC shares. JPMorgan Chase & Co. increased their price objective on Brookfield Renewable from $39.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday. Morgan Stanley raised their price target on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Brookfield Renewable presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.75.

About Brookfield Renewable

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.