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

Hsbc Holdings PLC lowered its position in Brookfield Renewable Corporation (NYSE:BEPC) by 72.7% in the fourth quarter, Holdings Channel.com reports. The fund 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 filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Motiv8 Investments LLC acquired a new position in shares of Brookfield Renewable in the fourth quarter valued at $25,000. Torren Management LLC bought a new stake in Brookfield Renewable in the fourth quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Brookfield Renewable in the fourth quarter worth about $27,000. SHP Wealth Management acquired a new position in Brookfield Renewable in the fourth quarter worth about $30,000. Finally, Princeton Global Asset Management LLC lifted its stake in Brookfield Renewable by 102.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock worth $31,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

Shares of BEPC opened at $35.01 on Monday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33. Brookfield Renewable Corporation has a one year low of $32.65 and a one year high of $45.18. The business’s 50 day simple moving average is $37.34 and its 200-day simple moving average is $39.52.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were given a $0.392 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.57 annualized dividend and a yield of 4.5%.

Analysts Set New Price Targets

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