Brookfield Renewable Corporation $BEPC Stock: Oak Grove Capital LLC Decreases Holdings

Oak Grove Capital LLC lessened its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 441,300 shares of the company’s stock after selling 44,800 shares during the quarter. Oak Grove Capital LLC’s holdings in Brookfield Renewable were worth $12,453,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BEPC. Paragon Capital Management Ltd lifted its holdings in shares of Brookfield Renewable by 9.6% during the 3rd quarter. Paragon Capital Management Ltd now owns 35,437 shares of the company’s stock worth $1,000,000 after acquiring an additional 3,098 shares during the period. Pacifica Partners Inc. increased its stake in Brookfield Renewable by 7,784.0% in the third quarter. Pacifica Partners Inc. now owns 39,420 shares of the company’s stock valued at $1,117,000 after acquiring an additional 38,920 shares during the period. GAMMA Investing LLC raised its position in Brookfield Renewable by 23.8% in the third quarter. GAMMA Investing LLC now owns 3,194 shares of the company’s stock worth $90,000 after purchasing an additional 613 shares in the last quarter. Farther Finance Advisors LLC raised its position in Brookfield Renewable by 53.4% in the third quarter. Farther Finance Advisors LLC now owns 23,445 shares of the company’s stock worth $662,000 after purchasing an additional 8,160 shares in the last quarter. Finally, Plan A Wealth LLC lifted its stake in Brookfield Renewable by 2.9% during the third quarter. Plan A Wealth LLC now owns 18,757 shares of the company’s stock worth $529,000 after purchasing an additional 524 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Trading Up 1.0%

Shares of Brookfield Renewable stock opened at $29.67 on Friday. Brookfield Renewable Corporation has a 12-month low of $27.57 and a 12-month high of $45.18. The company has a 50-day simple moving average of $31.49 and a 200 day simple moving average of $35.58. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were issued a dividend of $0.3920 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.57 annualized dividend and a dividend yield of 5.3%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Friday, July 31st. Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. Finally, Barclays boosted their price target on Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Brookfield Renewable presently has a consensus rating of “Reduce” and an average price target of $39.00.

Brookfield Renewable Profile

Brookfield Renewable Corporation is a renewable power and sustainable solutions company affiliated with Brookfield Asset Management. It develops, owns, and operates a diversified portfolio of renewable energy and sustainable infrastructure assets, supplying electricity and related services to utilities, businesses, and other customers.

The company’s activities include hydroelectric generation, onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy-transition solutions.