Edgestream Partners L.P. Makes New $10.26 Million Investment in Brookfield Renewable Corporation $BEPC

Edgestream Partners L.P. bought a new stake in Brookfield Renewable Corporation (NYSE:BEPC) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 257,702 shares of the company’s stock, valued at approximately $10,264,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss Life Asset Management Ltd grew its position in shares of Brookfield Renewable by 1.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company’s stock worth $656,000 after buying an additional 246 shares in the last quarter. Syon Capital LLC raised its holdings in Brookfield Renewable by 2.7% in the fourth quarter. Syon Capital LLC now owns 9,351 shares of the company’s stock valued at $359,000 after acquiring an additional 247 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Brookfield Renewable by 1.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company’s stock valued at $721,000 after acquiring an additional 284 shares in the last quarter. Curio Wealth LLC boosted its stake in Brookfield Renewable by 30.4% during the 4th quarter. Curio Wealth LLC now owns 1,244 shares of the company’s stock valued at $49,000 after acquiring an additional 290 shares during the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in Brookfield Renewable by 0.9% during the 4th quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock valued at $1,429,000 after acquiring an additional 310 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Brookfield Renewable Trading Down 1.5%

BEPC opened at $32.06 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.81. The company’s 50-day moving average price is $36.52 and its 200 day moving average price is $39.04. Brookfield Renewable Corporation has a fifty-two week low of $31.82 and a fifty-two week high of $45.18.

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.