Nuveen LLC Acquires New Position in Brookfield Renewable Corporation $BEPC

Nuveen LLC acquired a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) in the first quarter, HoldingsChannel reports. The fund acquired 411,428 shares of the company’s stock, valued at approximately $11,486,000.

A number of other institutional investors have also modified their holdings of the business. MassMutual Private Wealth & Trust FSB grew its position in shares of Brookfield Renewable by 43.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company’s stock valued at $35,000 after buying an additional 374 shares during the last quarter. Comprehensive Money Management Services LLC grew its position in shares of Brookfield Renewable by 3.3% during the 1st quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company’s stock valued at $394,000 after buying an additional 445 shares during the last quarter. CWM LLC grew its position in shares of Brookfield Renewable by 14.6% during the 1st quarter. CWM LLC now owns 4,058 shares of the company’s stock valued at $113,000 after buying an additional 516 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Brookfield Renewable by 0.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 71,292 shares of the company’s stock valued at $1,986,000 after buying an additional 579 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of Brookfield Renewable by 0.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 198,881 shares of the company’s stock valued at $5,553,000 after buying an additional 916 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

NYSE BEPC opened at $34.1840 on Friday. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $37.00. 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 stock has a market cap of $4.95 billion, a price-to-earnings ratio of -38.41 and a beta of 1.17. The company has a 50-day moving average price of $33.98 and a two-hundred day moving average price of $30.27.

Brookfield Renewable Dividend Announcement

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 given a $0.373 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.49 annualized dividend and a yield of 4.4%. Brookfield Renewable’s dividend payout ratio is -167.42%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BEPC shares. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Renewable from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.67.

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.