XTX Topco Ltd Makes New Investment 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 acquired a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,034 shares of the company's stock, valued at approximately $280,000.

A number of other hedge funds have also recently added to or reduced their stakes in BEPC. LPL Financial LLC boosted its stake in shares of Brookfield Renewable by 2.8% in the 4th quarter. LPL Financial LLC now owns 33,404 shares of the company's stock valued at $924,000 after purchasing an additional 902 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Brookfield Renewable by 14.4% in the 4th quarter. Geode Capital Management LLC now owns 1,429,290 shares of the company's stock valued at $39,423,000 after purchasing an additional 179,424 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Brookfield Renewable by 7.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 586,602 shares of the company's stock valued at $16,247,000 after purchasing an additional 41,542 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Brookfield Renewable by 4.4% in the 4th quarter. Invesco Ltd. now owns 356,640 shares of the company's stock valued at $9,865,000 after purchasing an additional 15,038 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Brookfield Renewable by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 59,410 shares of the company's stock valued at $1,643,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 75.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company reduced their price objective on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th.

Brookfield Renewable Trading Up 1.4%

Brookfield Renewable stock traded up $0.45 during midday trading on Friday, hitting $33.43. 723,908 shares of the stock were exchanged, compared to its average volume of 842,553. The company has a fifty day simple moving average of $33.83 and a two-hundred day simple moving average of $30.04. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $37.00. The stock has a market capitalization of $4.84 billion, a PE ratio of -37.56 and a beta of 1.17. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 annualized dividend and a yield of 4.5%. Brookfield Renewable's dividend payout ratio (DPR) is presently -167.42%.

About Brookfield Renewable

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.