Hsbc Holdings PLC Trims Holdings in Brookfield Renewable Corporation $BEPC

Hsbc Holdings PLC trimmed its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 72.7% in the 4th quarter, Holdings Channel reports. The fund owned 36,145 shares of the company’s stock after selling 96,388 shares during the quarter. Hsbc Holdings PLC’s holdings in Brookfield Renewable were worth $1,387,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. SHP Wealth Management purchased a new stake in Brookfield Renewable in the fourth quarter worth about $30,000. Invesco Ltd. lifted its holdings in shares of Brookfield Renewable by 22.9% during the fourth quarter. Invesco Ltd. now owns 500,311 shares of the company’s stock valued at $19,182,000 after purchasing an additional 93,117 shares during the last quarter. Alpine Woods Capital Investors LLC lifted its holdings in shares of Brookfield Renewable by 23.4% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 39,624 shares of the company’s stock valued at $1,519,000 after purchasing an additional 7,519 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Brookfield Renewable by 15.9% during the fourth quarter. XTX Topco Ltd now owns 21,778 shares of the company’s stock valued at $835,000 after purchasing an additional 2,992 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of Brookfield Renewable by 54.0% in the 4th quarter. Voloridge Investment Management LLC now owns 638,140 shares of the company’s stock worth $24,466,000 after purchasing an additional 223,802 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings downgraded Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Morgan Stanley reissued an “underweight” rating and issued a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a report on Monday, March 23rd. Finally, JPMorgan Chase & Co. raised their price target on Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable currently has an average rating of “Reduce” and an average price target of $42.33.

Brookfield Renewable Price Performance

Shares of NYSE BEPC opened at $37.17 on Wednesday. Brookfield Renewable Corporation has a twelve month low of $32.65 and a twelve month high of $45.18. The company has a 50 day moving average of $37.97 and a 200 day moving average of $39.66. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were issued a $0.392 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.2%.

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.