Brookfield Renewable Corporation $BEPC Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Brookfield Renewable Corporation by 2.4%, now owning approximately 5.72 million shares valued at $159.6 million.
• Brookfield Renewable recently declared a quarterly dividend of $0.373, set to be paid on September 30th, reflecting an annual yield of 4.5%.
• Analysts have mixed perspectives on the stock, with JPMorgan raising its target price to $38.00 and a consensus rating of "Moderate Buy" based on an average target of $33.67.

Vanguard Group Inc. increased its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,717,397 shares of the company's stock after buying an additional 135,776 shares during the quarter. Vanguard Group Inc. owned about 3.95% of Brookfield Renewable worth $159,596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BEPC. Invesco Ltd. lifted its position in Brookfield Renewable by 4.4% during the fourth quarter. Invesco Ltd. now owns 356,640 shares of the company's stock worth $9,865,000 after buying an additional 15,038 shares during the period. Guggenheim Capital LLC purchased a new position in Brookfield Renewable during the fourth quarter worth about $591,000. Tower Research Capital LLC TRC lifted its position in Brookfield Renewable by 270.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 35,312 shares of the company's stock worth $977,000 after buying an additional 25,784 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Brookfield Renewable by 16.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,483 shares of the company's stock worth $1,314,000 after buying an additional 6,839 shares during the period. Finally, Northern Trust Corp lifted its position in Brookfield Renewable by 52.3% during the fourth quarter. Northern Trust Corp now owns 756,065 shares of the company's stock worth $20,913,000 after buying an additional 259,519 shares during the period. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Trading Up 1.6%

Shares of Brookfield Renewable stock traded up $0.53 during trading hours on Tuesday, reaching $34.06. The stock had a trading volume of 689,158 shares, compared to its average volume of 801,897. The firm has a 50 day simple moving average of $34.05 and a two-hundred day simple moving average of $30.38. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of -38.26 and a beta of 1.17. 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 1 year low of $23.73 and a 1 year high of $37.00.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, August 29th. Brookfield Renewable's dividend payout ratio (DPR) is -167.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BEPC shares. JPMorgan Chase & Co. increased their target price on Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Morgan Stanley raised their price objective on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Wells Fargo & Company cut their price objective on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Three equities 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, Brookfield Renewable presently has an average rating of "Moderate Buy" and an average price target of $35.00.

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.