Brookfield Renewable Corporation $BEPC Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 46.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,066 shares of the company’s stock after selling 78,738 shares during the quarter. American Century Companies Inc. owned approximately 0.06% of Brookfield Renewable worth $2,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. New England Capital Financial Advisors LLC acquired a new position in shares of Brookfield Renewable during the first quarter worth about $28,000. MassMutual Private Wealth & Trust FSB increased its stake in Brookfield Renewable by 43.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company’s stock valued at $35,000 after purchasing an additional 374 shares during the last quarter. Dunhill Financial LLC purchased a new position in Brookfield Renewable in the fourth quarter valued at approximately $41,000. Measured Risk Portfolios Inc. purchased a new position in Brookfield Renewable in the fourth quarter valued at approximately $52,000. Finally, Tsfg LLC increased its stake in Brookfield Renewable by 97.9% in the first quarter. Tsfg LLC now owns 2,050 shares of the company’s stock valued at $57,000 after purchasing an additional 1,014 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Stock Performance

Shares of BEPC opened at $33.70 on Monday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. The firm has a market cap of $4.88 billion, a PE ratio of -37.87 and a beta of 1.13. The company’s 50 day simple moving average is $34.20 and its 200-day simple moving average is $30.55. Brookfield Renewable Corporation has a 12-month low of $23.73 and a 12-month high of $37.00.

Brookfield Renewable Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.4%. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

Wall Street Analysts Forecast Growth

BEPC has been the topic of several recent analyst reports. Morgan Stanley increased their price target on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. increased their price target 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. Finally, Wells Fargo & Company dropped their price target on shares of Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.00.

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.