PFG Investments LLC Acquires 11,119 Shares of Brookfield Renewable Corporation (NYSE:BEPC)

PFG Investments LLC lifted its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 5.6% during the first quarter, HoldingsChannel reports. The firm owned 209,120 shares of the company’s stock after acquiring an additional 11,119 shares during the quarter. PFG Investments LLC’s holdings in Brookfield Renewable were worth $5,839,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BEPC. Robeco Schweiz AG acquired a new stake in shares of Brookfield Renewable during the fourth quarter worth $55,680,000. Norges Bank acquired a new stake in shares of Brookfield Renewable in the 4th quarter valued at about $47,478,000. Parnassus Investments LLC lifted its holdings in shares of Brookfield Renewable by 46.6% in the fourth quarter. Parnassus Investments LLC now owns 3,910,496 shares of the company’s stock valued at $108,164,000 after purchasing an additional 1,242,858 shares in the last quarter. ClearBridge Investments Ltd boosted its position in Brookfield Renewable by 31.1% during the 4th quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company’s stock worth $80,071,000 after acquiring an additional 686,319 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Brookfield Renewable by 27.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company’s stock valued at $62,295,000 after purchasing an additional 490,448 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

Wall Street Analysts Forecast Growth

BEPC has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Barclays initiated coverage on shares of Brookfield Renewable in a research report on Wednesday, April 2nd. They set an “equal weight” rating and a $31.00 price target on the stock.

Brookfield Renewable Trading Down 1.2%

Shares of Brookfield Renewable stock opened at $31.37 on Friday. The stock has a market cap of $4.55 billion, a P/E ratio of -35.25 and a beta of 1.14. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.03. Brookfield Renewable Corporation has a 12-month low of $23.73 and a 12-month high of $35.14. The business’s 50 day moving average is $29.26 and its 200-day moving average is $28.19.

Brookfield Renewable Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, May 30th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -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.