Employees Retirement System of Texas Decreases Stock Holdings in Brookfield Renewable Corporation $BEPC

Employees Retirement System of Texas trimmed its position in Brookfield Renewable Corporation (NYSE:BEPC) by 96.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,126 shares of the company’s stock after selling 57,823 shares during the quarter. Employees Retirement System of Texas’ holdings in Brookfield Renewable were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Torren Management LLC purchased a new position in shares of Brookfield Renewable in the fourth quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Brookfield Renewable in the fourth quarter worth $27,000. Princeton Global Asset Management LLC boosted its holdings in Brookfield Renewable by 102.5% in the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock valued at $31,000 after acquiring an additional 405 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Brookfield Renewable by 191.5% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after acquiring an additional 655 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Brookfield Renewable by 88.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after acquiring an additional 543 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Brookfield Renewable Trading Up 1.8%

NYSE:BEPC opened at $39.88 on Friday. The firm’s fifty day simple moving average is $39.41 and its 200 day simple moving average is $40.20. Brookfield Renewable Corporation has a twelve month low of $28.76 and a twelve month 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.

Brookfield Renewable Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, May 29th.

Brookfield Renewable Company 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.