UBS Group AG Raises Holdings in Brookfield Renewable Corporation $BEPC

Key Points

• UBS boosted its stake in Brookfield Renewable by 225.2% in Q4, adding 1,247,953 shares to hold 1,802,162 shares (about 1.24% of the company) valued at roughly $69.1 million.
• Brookfield Renewable declared a quarterly dividend of $0.392 per share (annualized $1.57) payable June 30 for holders of record May 29, implying a yield of about 4.4%.
• Analyst sentiment is mixed-to-negative with a MarketBeat consensus rating of "Reduce" and a consensus target price of $42.33, despite some firms (e.g., JPMorgan) having higher targets.

UBS Group AG boosted its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 225.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,802,162 shares of the company's stock after acquiring an additional 1,247,953 shares during the quarter. UBS Group AG owned 1.24% of Brookfield Renewable worth $69,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Brookfield Renewable by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 6,095,578 shares of the company's stock valued at $233,817,000 after purchasing an additional 90,863 shares during the last quarter. Parnassus Investments LLC raised its position in Brookfield Renewable by 1.4% during the 3rd quarter. Parnassus Investments LLC now owns 5,337,630 shares of the company's stock valued at $183,721,000 after purchasing an additional 74,543 shares during the last quarter. Principal Financial Group Inc. raised its position in Brookfield Renewable by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 4,646,524 shares of the company's stock valued at $159,935,000 after purchasing an additional 121,328 shares during the last quarter. Legal & General Group Plc raised its position in Brookfield Renewable by 3.1% during the 3rd quarter. Legal & General Group Plc now owns 3,944,804 shares of the company's stock valued at $135,830,000 after purchasing an additional 117,058 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Brookfield Renewable by 49.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company's stock valued at $97,457,000 after purchasing an additional 985,442 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Stock Performance

BEPC stock opened at $35.57 on Tuesday. Brookfield Renewable Corporation has a twelve month low of $27.27 and a twelve month high of $45.18. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average of $40.96 and a 200 day moving average of $40.76.

Brookfield Renewable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, May 29th.

Wall Street Analysts Forecast Growth

BEPC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on Brookfield Renewable from $48.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. Barclays increased their target price on Brookfield Renewable from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, January 23rd. Morgan Stanley reissued an "underweight" rating and issued a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. Finally, Wall Street Zen lowered Brookfield Renewable from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $42.33.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation NYSE: BEPC is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company's operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.

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