Arrowstreet Capital Limited Partnership Has $73.52 Million Stock Holdings in Brookfield Renewable Corporation $BEPC

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 19.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,844,813 shares of the company’s stock after selling 436,805 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Brookfield Renewable were worth $73,524,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Swiss Life Asset Management Ltd lifted its stake in Brookfield Renewable by 1.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company’s stock valued at $656,000 after buying an additional 246 shares in the last quarter. Syon Capital LLC increased its holdings in Brookfield Renewable by 2.7% during the 4th quarter. Syon Capital LLC now owns 9,351 shares of the company’s stock worth $359,000 after purchasing an additional 247 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Brookfield Renewable by 1.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company’s stock valued at $721,000 after purchasing an additional 284 shares during the period. Curio Wealth LLC raised its stake in shares of Brookfield Renewable by 30.4% in the 4th quarter. Curio Wealth LLC now owns 1,244 shares of the company’s stock valued at $49,000 after purchasing an additional 290 shares during the period. Finally, Diversify Advisory Services LLC lifted its holdings in shares of Brookfield Renewable by 0.9% in the fourth quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock valued at $1,429,000 after purchasing an additional 310 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Trading Up 0.2%

Shares of BEPC stock opened at $33.58 on Monday. 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 company has a fifty day moving average price of $36.77 and a two-hundred day moving average price of $39.17. Brookfield Renewable Corporation has a one year low of $32.10 and a one year high of $45.18.

Brookfield Renewable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th.

Analysts Set New Price Targets

Several research firms have recently weighed in on BEPC. Barclays upped their price objective on Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $38.00 target price on shares of Brookfield Renewable in a research report on Tuesday, July 21st. Finally, Weiss Ratings cut Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Brookfield Renewable presently has an average rating of “Reduce” and a consensus price target of $39.67.

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.