Brookfield Renewable Corporation $BEPC Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. lessened its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 36.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 348,709 shares of the company’s stock after selling 203,185 shares during the period. New South Capital Management Inc.’s holdings in Brookfield Renewable were worth $9,841,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Baird Financial Group Inc. grew its position in Brookfield Renewable by 11.4% during the second quarter. Baird Financial Group Inc. now owns 3,335,117 shares of the company’s stock worth $123,800,000 after buying an additional 340,103 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Brookfield Renewable in the 1st quarter valued at approximately $10,264,000. Walleye Capital LLC raised its holdings in Brookfield Renewable by 309.4% in the 1st quarter. Walleye Capital LLC now owns 300,983 shares of the company’s stock valued at $11,988,000 after acquiring an additional 227,465 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Brookfield Renewable by 134.8% in the 1st quarter. Quantinno Capital Management LP now owns 176,687 shares of the company’s stock valued at $7,037,000 after acquiring an additional 101,422 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Brookfield Renewable by 27.0% in the 1st quarter. Swiss National Bank now owns 463,350 shares of the company’s stock worth $18,439,000 after acquiring an additional 98,600 shares during the period. Institutional investors own 75.12% of the company’s stock.

Analyst Ratings Changes

BEPC has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Thursday, October 29th. Morgan Stanley cut their target price on Brookfield Renewable from $42.00 to $37.00 and set an “underweight” rating for the company in a research note on Tuesday, October 13th. Wall Street Zen raised Brookfield Renewable from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, Barclays raised their target price on Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $36.00.

Brookfield Renewable Price Performance

Shares of Brookfield Renewable stock opened at $31.29 on Thursday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.80. The firm’s 50-day simple moving average is $29.77 and its 200-day simple moving average is $36.06. Brookfield Renewable Corporation has a twelve month low of $27.57 and a twelve month high of $45.18.

About Brookfield Renewable

Brookfield Renewable Corporation (NYSE: BEPC) is a publicly traded company that provides investors with corporate securities representing an economic interest in the Brookfield Renewable Partners platform. Brookfield Renewable develops, owns and operates renewable power and sustainable energy businesses. The platform’s activities include generating electricity from hydroelectric, wind and solar facilities, as well as providing energy storage and other decarbonization solutions. Its portfolio spans North America, South America, Europe and Asia-Pacific.