Brookfield Renewable Corporation $BEPC Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC lessened its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 667,559 shares of the company’s stock after selling 17,305 shares during the period. Cannell & Spears LLC’s holdings in Brookfield Renewable were worth $22,977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in shares of Brookfield Renewable in the 1st quarter worth about $756,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Brookfield Renewable during the 1st quarter worth about $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Brookfield Renewable by 115.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,963 shares of the company’s stock worth $1,813,000 after purchasing an additional 34,799 shares during the period. Goldman Sachs Group Inc. increased its position in Brookfield Renewable by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company’s stock worth $17,995,000 after purchasing an additional 158,771 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Brookfield Renewable by 2.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,020 shares of the company’s stock worth $6,310,000 after purchasing an additional 4,768 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Wall Street Zen raised shares of Brookfield Renewable from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Barclays lifted their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.00.

Brookfield Renewable Price Performance

BEPC stock opened at $39.19 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.26 and a current ratio of 0.26. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $45.18. The firm has a market cap of $5.70 billion, a P/E ratio of -44.03 and a beta of 1.24. The stock has a 50-day simple moving average of $41.05 and a 200-day simple moving average of $39.41.

Brookfield Renewable Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a $0.392 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a yield of 4.0%. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio (DPR) is currently -175.28%.

About Brookfield Renewable

Brookfield Renewable Corporation (NYSE: BEPC) is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company’s operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.