Brookfield Renewable Corporation $BEPC Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,144,695 shares of the company’s stock after selling 73,600 shares during the quarter. Renaissance Technologies LLC owned 0.78% of Brookfield Renewable worth $45,593,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Motiv8 Investments LLC acquired a new position in shares of Brookfield Renewable in the 4th quarter valued at $25,000. Torren Management LLC acquired a new stake in Brookfield Renewable during the 4th quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Brookfield Renewable during the 4th quarter worth about $27,000. SHP Wealth Management purchased a new stake in Brookfield Renewable during the fourth quarter valued at about $30,000. Finally, Princeton Global Asset Management LLC lifted its stake in Brookfield Renewable by 102.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock valued at $31,000 after buying an additional 405 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Price Performance

BEPC stock opened at $32.59 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a 50 day simple moving average of $36.69 and a 200 day simple moving average of $39.12. Brookfield Renewable Corporation has a 52 week low of $32.10 and a 52 week high of $45.18.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were given a $0.392 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.8%.

Analyst Ratings Changes

Several brokerages have commented on BEPC. Barclays raised their target price on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $38.00 price target on shares of Brookfield Renewable in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $39.67.

Brookfield Renewable Profile

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.