Brookfield Renewable Corporation $BEPC Stock Holdings Lessened by Parallel Advisors LLC

Parallel Advisors LLC trimmed its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 55.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,576 shares of the company’s stock after selling 1,945 shares during the quarter. Parallel Advisors LLC’s holdings in Brookfield Renewable were worth $52,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. MAI Capital Management lifted its position in shares of Brookfield Renewable by 59.0% in the first quarter. MAI Capital Management now owns 951 shares of the company’s stock worth $27,000 after purchasing an additional 353 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Brookfield Renewable by 43.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company’s stock worth $35,000 after purchasing an additional 374 shares in the last quarter. Comprehensive Money Management Services LLC lifted its position in shares of Brookfield Renewable by 3.3% in the first quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company’s stock worth $394,000 after purchasing an additional 445 shares in the last quarter. CWM LLC lifted its position in shares of Brookfield Renewable by 14.6% in the first quarter. CWM LLC now owns 4,058 shares of the company’s stock worth $113,000 after purchasing an additional 516 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Brookfield Renewable by 0.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 71,292 shares of the company’s stock valued at $1,986,000 after acquiring an additional 579 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Price Performance

Shares of BEPC opened at $34.54 on Friday. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $37.00. The firm has a market cap of $5.00 billion, a PE ratio of -38.81 and a beta of 1.13. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27. The firm’s 50 day moving average price is $34.32 and its 200 day moving average price is $31.33.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable’s dividend payout ratio is currently -167.42%.

Analyst Ratings Changes

BEPC has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Brookfield Renewable from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Morgan Stanley raised their price objective on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.75.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.