Brookfield Renewable Corporation $BEPC Shares Sold by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. trimmed its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,742 shares of the company’s stock after selling 5,260 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Brookfield Renewable were worth $1,082,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BEPC. ASR Vermogensbeheer N.V. acquired a new position in Brookfield Renewable in the 1st quarter valued at $25,186,000. Northern Trust Corp increased its stake in Brookfield Renewable by 111.5% in the 1st quarter. Northern Trust Corp now owns 1,599,275 shares of the company’s stock valued at $44,652,000 after buying an additional 843,210 shares during the period. Nuveen LLC acquired a new position in Brookfield Renewable in the 1st quarter valued at $11,486,000. Voloridge Investment Management LLC increased its stake in Brookfield Renewable by 135.0% in the 4th quarter. Voloridge Investment Management LLC now owns 668,096 shares of the company’s stock valued at $18,480,000 after buying an additional 383,787 shares during the period. Finally, Gotham Asset Management LLC increased its stake in Brookfield Renewable by 77.1% in the 4th quarter. Gotham Asset Management LLC now owns 812,871 shares of the company’s stock valued at $22,484,000 after buying an additional 354,008 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of 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 decreased their target price on shares of 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 Price Performance

Brookfield Renewable stock opened at $33.74 on Tuesday. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $37.00. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The firm’s 50-day simple moving average is $33.86 and its 200 day simple moving average is $30.12. The firm has a market capitalization of $4.89 billion, a PE ratio of -37.91 and a beta of 1.17.

Brookfield Renewable Announces Dividend

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