Cibc World Market Inc. Sells 76,373 Shares of Brookfield Renewable Corporation $BEPC

Cibc World Market Inc. decreased its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 846,677 shares of the company’s stock after selling 76,373 shares during the quarter. Cibc World Market Inc. owned about 0.58% of Brookfield Renewable worth $32,462,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Swiss Life Asset Management Ltd increased its holdings 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 valued at $656,000 after acquiring an additional 246 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in Brookfield Renewable by 0.9% in the 4th quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock worth $1,429,000 after purchasing an additional 310 shares in the last quarter. Modern Wealth Management LLC boosted its stake in Brookfield Renewable by 2.3% in the 2nd quarter. Modern Wealth Management LLC now owns 14,856 shares of the company’s stock worth $487,000 after purchasing an additional 327 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Brookfield Renewable by 0.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 63,088 shares of the company’s stock valued at $2,068,000 after purchasing an additional 368 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Brookfield Renewable by 2.7% during the 3rd quarter. Sei Investments Co. now owns 14,309 shares of the company’s stock valued at $493,000 after purchasing an additional 375 shares in the last quarter. 75.12% of the stock is owned by institutional investors.

Brookfield Renewable Price Performance

BEPC opened at $38.77 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a 50 day moving average price of $39.38 and a 200-day moving average price of $40.08. Brookfield Renewable Corporation has a twelve month low of $29.14 and a twelve month high of $45.18.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, May 29th.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BEPC shares. Weiss Ratings cut shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Morgan Stanley reaffirmed an “underweight” rating and issued a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. JPMorgan Chase & Co. increased their target price on Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. 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 company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $42.33.

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.