Arrowstreet Capital Limited Partnership Sells 696,735 Shares of Brookfield Renewable Corporation $BEPC

Arrowstreet Capital Limited Partnership reduced its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 32.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,473,804 shares of the company’s stock after selling 696,735 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Brookfield Renewable were worth $48,326,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MAI Capital Management lifted its stake in shares of Brookfield Renewable by 59.0% in the 1st quarter. MAI Capital Management now owns 951 shares of the company’s stock valued at $27,000 after purchasing an additional 353 shares during the last quarter. Monetary Management Group Inc. purchased a new stake in Brookfield Renewable during the 1st quarter valued at $28,000. Curio Wealth LLC lifted its position in Brookfield Renewable by 95,300.0% in the second quarter. Curio Wealth LLC now owns 954 shares of the company’s stock worth $31,000 after buying an additional 953 shares during the last quarter. Employees Retirement System of Texas purchased a new position in Brookfield Renewable during the second quarter worth $42,000. Finally, SVB Wealth LLC bought a new position in Brookfield Renewable during the first quarter valued at $52,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Trading Down 1.0%

Shares of NYSE BEPC opened at $39.68 on Friday. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $45.10. The firm has a market cap of $5.75 billion, a PE ratio of -44.58 and a beta of 1.23. The business has a fifty day simple moving average of $40.56 and a two-hundred day simple moving average of $35.73. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.21.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be paid a $0.373 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.49 dividend on an annualized basis and a yield of 3.8%. Brookfield Renewable’s dividend payout ratio is -167.42%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BEPC shares. JPMorgan Chase & Co. raised their target price on shares of Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday. Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Barclays raised their price target on Brookfield Renewable from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley boosted their price objective on Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable currently has a consensus rating of “Hold” and a consensus target price of $39.75.

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.