Brookfield Renewable Co. (NYSE:BEPC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 50.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,153,647 shares of the company's stock after selling 1,185,833 shares during the period. Bank of America Corp DE owned approximately 0.80% of Brookfield Renewable worth $31,910,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Curio Wealth LLC acquired a new stake in Brookfield Renewable during the fourth quarter worth about $26,000. Atala Financial Inc purchased a new stake in shares of Brookfield Renewable during the 4th quarter worth about $27,000. Quadrant Capital Group LLC increased its position in Brookfield Renewable by 152.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,013 shares of the company's stock worth $56,000 after purchasing an additional 1,217 shares in the last quarter. Spirit of America Management Corp NY increased its position in Brookfield Renewable by 87.0% during the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company's stock worth $59,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Brookfield Renewable by 58.8% in the fourth quarter. Signaturefd LLC now owns 3,480 shares of the company's stock valued at $96,000 after buying an additional 1,288 shares during the period. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BEPC has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. reduced their target price on shares of Brookfield Renewable from $34.00 to $32.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Finally, Barclays initiated coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $31.00 price target for the company.

Brookfield Renewable Stock Down 3.8%

Brookfield Renewable stock traded down $1.12 during midday trading on Thursday, hitting $28.09. 208,325 shares of the company were exchanged, compared to its average volume of 939,564. The company has a market cap of $4.07 billion, a PE ratio of -31.60 and a beta of 1.15. Brookfield Renewable Co. has a fifty-two week low of $23.73 and a fifty-two week high of $35.14. The company's fifty day moving average price is $27.97 and its 200-day moving average price is $28.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.27 and a quick ratio of 0.51.

Brookfield Renewable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.373 per share. The ex-dividend date is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.31%. Brookfield Renewable's payout ratio is currently -0.15%.

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.