461,127 Shares in Brookfield Renewable Corporation $BEPC Purchased by Ninety One UK Ltd

Ninety One UK Ltd bought a new position in Brookfield Renewable Corporation (NYSE:BEPC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 461,127 shares of the company’s stock, valued at approximately $15,116,000. Ninety One UK Ltd owned about 0.32% of Brookfield Renewable as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BEPC. Vanguard Group Inc. lifted its position in Brookfield Renewable by 2.4% during the first quarter. Vanguard Group Inc. now owns 5,717,397 shares of the company’s stock valued at $159,596,000 after purchasing an additional 135,776 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Brookfield Renewable by 24.2% during the 1st quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company’s stock valued at $135,574,000 after buying an additional 945,297 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of 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 acquiring an additional 251,310 shares during the last quarter. Robeco Schweiz AG grew its position in Brookfield Renewable by 1.7% in the first quarter. Robeco Schweiz AG now owns 2,048,008 shares of the company’s stock worth $57,180,000 after acquiring an additional 35,008 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in Brookfield Renewable by 4.7% during the first quarter. Baird Financial Group Inc. now owns 2,022,268 shares of the company’s stock valued at $56,462,000 after purchasing an additional 91,367 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Analyst Ratings Changes

BEPC has been the subject of a number of research reports. Morgan Stanley upped their price objective on Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their price target on shares of Brookfield Renewable from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Brookfield Renewable presently has an average rating of “Moderate Buy” and a consensus target price of $35.75.

Brookfield Renewable Price Performance

Shares of Brookfield Renewable stock opened at $35.74 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.27 and a quick ratio of 0.27. Brookfield Renewable Corporation has a one year low of $23.73 and a one year high of $37.00. The business’s 50 day simple moving average is $34.23 and its two-hundred day simple moving average is $31.46. The stock has a market capitalization of $5.18 billion, a P/E ratio of -40.16 and a beta of 1.21.

Brookfield Renewable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Renewable’s dividend payout ratio (DPR) 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.