Brookfield Renewable Corporation $BEPC Position Reduced by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in Brookfield Renewable Corporation (NYSE:BEPC) by 35.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,526 shares of the company’s stock after selling 77,753 shares during the period. SG Americas Securities LLC owned approximately 0.10% of Brookfield Renewable worth $5,503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its holdings in shares of Brookfield Renewable by 728.3% in the third quarter. Quantbot Technologies LP now owns 130,474 shares of the company’s stock valued at $4,491,000 after buying an additional 114,722 shares during the period. Neo Ivy Capital Management bought a new position in Brookfield Renewable during the third quarter valued at about $1,342,000. Vanguard Group Inc. grew its holdings in Brookfield Renewable by 2.6% during the third quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock worth $206,717,000 after acquiring an additional 151,186 shares during the period. Envestnet Asset Management Inc. raised its position in Brookfield Renewable by 9.6% in the third quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company’s stock worth $18,348,000 after acquiring an additional 46,796 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Brookfield Renewable by 81.0% in the third quarter. JPMorgan Chase & Co. now owns 228,888 shares of the company’s stock worth $7,878,000 after acquiring an additional 102,406 shares in the last quarter. 75.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Morgan Stanley reiterated 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. Barclays increased their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.50.

Brookfield Renewable Trading Up 1.4%

Shares of NYSE BEPC opened at $40.39 on Thursday. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $45.18. The company has a market cap of $5.88 billion, a price-to-earnings ratio of -45.38 and a beta of 1.24. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $41.25 and a 200-day simple moving average of $39.95.

Brookfield Renewable Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were issued a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, February 27th. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio is presently -175.28%.

Brookfield Renewable Company 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.