Moody Lynn & Lieberson LLC Cuts Stake in Brookfield Renewable Corporation $BEPC

Moody Lynn & Lieberson LLC cut its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 9.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,900 shares of the company’s stock after selling 700 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Brookfield Renewable were worth $226,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. MAI Capital Management raised its position in Brookfield Renewable by 59.0% in the first quarter. MAI Capital Management now owns 951 shares of the company’s stock valued at $27,000 after purchasing an additional 353 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Brookfield Renewable by 43.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company’s stock valued at $35,000 after purchasing an additional 374 shares during the period. Comprehensive Money Management Services LLC raised its position in Brookfield Renewable by 3.3% in the first quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company’s stock valued at $394,000 after purchasing an additional 445 shares during the period. CWM LLC grew its stake in shares of Brookfield Renewable by 14.6% during the first quarter. CWM LLC now owns 4,058 shares of the company’s stock valued at $113,000 after acquiring an additional 516 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of 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.

Analysts Set New Price Targets

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

Brookfield Renewable Stock Performance

BEPC opened at $34.76 on Tuesday. The business’s 50 day moving average is $34.30 and its 200-day moving average is $31.41. The stock has a market cap of $5.04 billion, a PE ratio of -39.05 and a beta of 1.13. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $37.00.

Brookfield Renewable Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 annualized dividend and a yield of 4.3%. Brookfield Renewable’s payout ratio is presently -167.42%.

Brookfield Renewable Profile

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.