Vanguard Group Inc. Has $233.82 Million Holdings in Brookfield Renewable Corporation $BEPC

Key Points

• Vanguard Group Inc. increased its stake in Brookfield Renewable by 1.5% in the fourth quarter, bringing its holdings to 6.1 million shares valued at about $233.8 million.
• Several other hedge funds also adjusted positions in the stock, and institutional ownership remains high at 75.12% of shares outstanding.
• Analysts are mixed on BEPC, with a consensus rating of “Reduce” and a target price of $42.33; the stock recently traded at $36.71 and offers a 4.3% dividend yield.

Vanguard Group Inc. boosted its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,095,578 shares of the company's stock after acquiring an additional 90,863 shares during the quarter. Vanguard Group Inc. owned 4.21% of Brookfield Renewable worth $233,817,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quantbot Technologies LP lifted its holdings in shares of Brookfield Renewable by 728.3% in the third quarter. Quantbot Technologies LP now owns 130,474 shares of the company's stock valued at $4,491,000 after purchasing an additional 114,722 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Brookfield Renewable during the third quarter worth $1,342,000. JPMorgan Chase & Co. grew its holdings in Brookfield Renewable by 81.0% during the third quarter. JPMorgan Chase & Co. now owns 228,888 shares of the company's stock worth $7,878,000 after buying an additional 102,406 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Brookfield Renewable by 9.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company's stock valued at $18,348,000 after buying an additional 46,796 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Brookfield Renewable by 699.1% in the 3rd quarter. SG Americas Securities LLC now owns 221,279 shares of the company's stock valued at $7,616,000 after buying an additional 193,588 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley reaffirmed an "underweight" rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a report on Monday, March 23rd. Weiss Ratings downgraded shares of Brookfield Renewable from a "sell (d)" rating to a "sell (e+)" rating in a report on Monday, May 4th. Wall Street Zen lowered shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Barclays boosted their price target on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Brookfield Renewable from $48.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $42.33.

Brookfield Renewable Price Performance

Shares of Brookfield Renewable stock opened at $36.71 on Friday. The business's fifty day simple moving average is $40.60 and its 200 day simple moving average is $40.69. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 1.81. Brookfield Renewable Corporation has a 12 month low of $27.72 and a 12 month high of $45.18.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, May 29th.

Brookfield Renewable 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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