XTX Topco Ltd Purchases New Holdings in Brookfield Renewable Corporation (NYSE:BEPC)

Key Points

• XTX Topco Ltd acquired a new stake in Brookfield Renewable Corporation, purchasing 10,034 shares valued at approximately $280,000 during the 1st quarter.
• Institutional investors and hedge funds now own 75.12% of Brookfield Renewable's stock, with significant increases in positions from several firms in the previous quarter.
• Brookfield Renewable announced a quarterly dividend of $0.373, reflecting an annualized dividend yield of 4.5%, despite a negative dividend payout ratio currently.

XTX Topco Ltd purchased a new stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,034 shares of the company's stock, valued at approximately $280,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BEPC. Epoch Investment Partners Inc. increased its position in Brookfield Renewable by 27.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company's stock worth $62,295,000 after purchasing an additional 490,448 shares during the period. Voloridge Investment Management LLC increased its position in Brookfield Renewable by 135.0% during the 4th quarter. Voloridge Investment Management LLC now owns 668,096 shares of the company's stock worth $18,480,000 after purchasing an additional 383,787 shares during the period. Gotham Asset Management LLC increased its position in Brookfield Renewable by 77.1% during the 4th quarter. Gotham Asset Management LLC now owns 812,871 shares of the company's stock worth $22,484,000 after purchasing an additional 354,008 shares during the period. Northern Trust Corp increased its position in Brookfield Renewable by 52.3% during the 4th quarter. Northern Trust Corp now owns 756,065 shares of the company's stock worth $20,913,000 after purchasing an additional 259,519 shares during the period. Finally, Principal Financial Group Inc. increased its position in Brookfield Renewable by 6.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company's stock worth $123,713,000 after purchasing an additional 251,310 shares during the period. Institutional investors and hedge funds own 75.12% of the company's stock.

Analyst Ratings Changes

BEPC has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company dropped their target price on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th.

Brookfield Renewable Stock Performance

BEPC opened at $33.21 on Tuesday. The stock has a market cap of $4.81 billion, a P/E ratio of -37.31 and a beta of 1.17. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.27 and a quick ratio of 0.27. The stock's 50 day simple moving average is $33.54 and its 200 day simple moving average is $29.83. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $37.00.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be issued a $0.373 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.5%. Brookfield Renewable's dividend payout ratio is currently -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.

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