Zurcher Kantonalbank Zurich Cantonalbank Sells 10,669 Shares of Brookfield Renewable Corporation (NYSE:BEPC)

Key Points

• Zurcher Kantonalbank reduced its stake in Brookfield Renewable by 11.0%, selling 10,669 shares and now holding approximately 86,655 shares valued at $2,419,000.
• Brookfield Renewable announced a quarterly dividend of $0.373, leading to an annualized dividend of $1.49 and a yield of 4.4% despite a negative payout ratio of -167.42%.
• Analysts have set varying price targets for Brookfield Renewable, with JPMorgan raising its target from $34.00 to $38.00 while Wells Fargo lowered it from $33.00 to $32.00.

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 11.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,655 shares of the company's stock after selling 10,669 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Brookfield Renewable worth $2,419,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BEPC. New England Capital Financial Advisors LLC purchased a new stake in Brookfield Renewable during the first quarter worth about $28,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Brookfield Renewable by 43.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock worth $35,000 after purchasing an additional 374 shares in the last quarter. Dunhill Financial LLC purchased a new position in shares of Brookfield Renewable in the fourth quarter worth about $41,000. Measured Risk Portfolios Inc. purchased a new position in shares of Brookfield Renewable in the fourth quarter worth about $52,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Brookfield Renewable by 152.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,013 shares of the company's stock worth $56,000 after purchasing an additional 1,217 shares in the last quarter. 75.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective 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.

Brookfield Renewable Price Performance

Brookfield Renewable stock traded down $0.54 during mid-day trading on Wednesday, hitting $33.79. 561,613 shares of the company traded hands, compared to its average volume of 1,032,843. Brookfield Renewable Corporation has a one year low of $23.73 and a one year high of $37.00. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -37.96 and a beta of 1.17. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.25 and a current ratio of 0.27. The stock has a fifty day moving average price of $33.18 and a 200-day moving average price of $29.56.

Brookfield Renewable Dividend Announcement

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