Bank of New York Mellon Corp Buys 7,415 Shares of Brookfield Renewable Corporation (NYSE:BEPC)

Bank of New York Mellon Corp raised its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 484,723 shares of the company’s stock after purchasing an additional 7,415 shares during the period. Bank of New York Mellon Corp owned 0.33% of Brookfield Renewable worth $13,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Brookfield Renewable by 6.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company’s stock valued at $123,713,000 after buying an additional 251,310 shares in the last quarter. Moody Lynn & Lieberson LLC bought a new position in shares of Brookfield Renewable in the first quarter worth $212,000. New South Capital Management Inc. grew its position in shares of Brookfield Renewable by 65.4% in the first quarter. New South Capital Management Inc. now owns 617,219 shares of the company’s stock valued at $17,233,000 after purchasing an additional 244,015 shares in the last quarter. Rossby Financial LCC purchased a new position in shares of Brookfield Renewable in the first quarter valued at $61,000. Finally, WASHINGTON TRUST Co bought a new stake in shares of Brookfield Renewable during the 1st quarter valued at $136,000. 75.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Barclays assumed coverage on shares of Brookfield Renewable in a report on Wednesday, April 2nd. They issued an “equal weight” rating and a $31.00 price target on the stock.

Brookfield Renewable Stock Performance

Brookfield Renewable stock opened at $36.34 on Friday. Brookfield Renewable Corporation has a fifty-two week low of $23.73 and a fifty-two week high of $36.45. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of -40.83 and a beta of 1.16. The stock’s 50 day simple moving average is $31.59 and its two-hundred day simple moving average is $28.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 0.25.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Renewable’s payout ratio is currently -167.42%.

Brookfield Renewable 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.