Vanguard Group Inc. Purchases 135,776 Shares of Brookfield Renewable Corporation $BEPC

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. raised its stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,717,397 shares of the company's stock after purchasing an additional 135,776 shares during the quarter. Vanguard Group Inc. owned 3.95% of Brookfield Renewable worth $159,596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Voloridge Investment Management LLC increased its position in shares of Brookfield Renewable by 135.0% during the fourth quarter. Voloridge Investment Management LLC now owns 668,096 shares of the company's stock valued at $18,480,000 after acquiring an additional 383,787 shares during the last quarter. Gotham Asset Management LLC increased its position in shares of Brookfield Renewable by 77.1% during the fourth quarter. Gotham Asset Management LLC now owns 812,871 shares of the company's stock valued at $22,484,000 after acquiring an additional 354,008 shares during the last quarter. Northern Trust Corp increased its position in shares of Brookfield Renewable by 52.3% during the fourth quarter. Northern Trust Corp now owns 756,065 shares of the company's stock valued at $20,913,000 after acquiring an additional 259,519 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Brookfield Renewable by 6.0% during the first quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company's stock valued at $123,713,000 after acquiring an additional 251,310 shares during the last quarter. Finally, New South Capital Management Inc. increased its position in shares of Brookfield Renewable by 65.4% during the first quarter. New South Capital Management Inc. now owns 617,219 shares of the company's stock valued at $17,233,000 after acquiring an additional 244,015 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BEPC has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price target on Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.67.

Brookfield Renewable Stock Performance

NYSE BEPC traded up $0.7940 on Friday, hitting $34.1840. 397,488 shares of the stock traded hands, compared to its average volume of 814,291. The business's fifty day moving average is $33.98 and its two-hundred day moving average is $30.27. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $37.00. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of -38.41 and a beta of 1.17. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable's dividend 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.