CIBC Asset Management Inc Sells 34,281 Shares of Brookfield Renewable Corporation $BEPC

CIBC Asset Management Inc trimmed its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 26.0% in the 4th quarter, HoldingsChannel reports. The firm owned 97,635 shares of the company’s stock after selling 34,281 shares during the period. CIBC Asset Management Inc’s holdings in Brookfield Renewable were worth $3,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Torren Management LLC purchased a new stake in shares of Brookfield Renewable in the 4th quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Brookfield Renewable in the 4th quarter worth $27,000. Princeton Global Asset Management LLC increased its stake in shares of Brookfield Renewable by 102.5% in the 4th quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock worth $31,000 after purchasing an additional 405 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Brookfield Renewable by 191.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $35,000 after purchasing an additional 655 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Brookfield Renewable by 88.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock worth $38,000 after purchasing an additional 543 shares in the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Trading Up 0.1%

Shares of BEPC stock opened at $38.76 on Monday. Brookfield Renewable Corporation has a 52-week low of $29.37 and a 52-week high of $45.18. 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 stock has a fifty day simple moving average of $39.36 and a two-hundred day simple moving average of $40.05.

Brookfield Renewable Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 yield of 4.0%. The ex-dividend date is Friday, May 29th.

Analyst Ratings Changes

Several equities research analysts have recently commented on BEPC shares. Morgan Stanley restated an “underweight” rating and issued a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. JPMorgan Chase & Co. upped their price objective on Brookfield Renewable from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Weiss Ratings lowered Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Brookfield Renewable currently has an average rating of “Reduce” and a consensus target price of $42.33.

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.