Hsbc Holdings PLC Sells 96,388 Shares of Brookfield Renewable Corporation $BEPC

Hsbc Holdings PLC lowered its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 72.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,145 shares of the company’s stock after selling 96,388 shares during the period. Hsbc Holdings PLC’s holdings in Brookfield Renewable were worth $1,387,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new stake in shares of Brookfield Renewable during the third quarter valued at approximately $1,342,000. JPMorgan Chase & Co. raised its stake in shares of Brookfield Renewable by 81.0% during the third quarter. JPMorgan Chase & Co. now owns 228,888 shares of the company’s stock valued at $7,878,000 after acquiring an additional 102,406 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Brookfield Renewable by 502.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 78,837 shares of the company’s stock worth $3,023,000 after purchasing an additional 65,757 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of Brookfield Renewable in the third quarter worth about $98,293,000. Finally, Investment Research Partners LLC purchased a new position in Brookfield Renewable during the 3rd quarter valued at about $1,227,000. Institutional investors own 75.12% of the company’s stock.

Wall Street Analyst Weigh In

BEPC has been the subject of a number of recent analyst reports. Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Weiss Ratings cut Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their target price on Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $42.00 price target (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $42.33.

Brookfield Renewable Price Performance

Shares of BEPC opened at $37.17 on Wednesday. The company has a 50-day simple moving average of $37.97 and a two-hundred day simple moving average of $39.66. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33. Brookfield Renewable Corporation has a one year low of $32.65 and a one year high of $45.18.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, May 29th.

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.