257,702 Shares in Brookfield Renewable Corporation $BEPC Acquired by Edgestream Partners L.P.

Key Points

• Edgestream Partners L.P. acquired 257,702 shares of Brookfield Renewable, valued at approximately $10.3 million, representing a 0.17% stake. Institutional investors and hedge funds collectively own 75.12% of the company.
• Brookfield Renewable shares opened at $32.06, near their 52-week low of $31.82 and below their 50-day and 200-day moving averages of $36.52 and $39.04, respectively.
• Analyst sentiment remains cautious: MarketBeat reports an average rating of “Reduce”, with two Hold ratings and two Sell ratings, alongside a consensus price target of $39.67.

Edgestream Partners L.P. purchased a new position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 257,702 shares of the company's stock, valued at approximately $10,264,000. Edgestream Partners L.P. owned 0.17% of Brookfield Renewable as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in Brookfield Renewable by 502.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 78,837 shares of the company's stock worth $3,023,000 after acquiring an additional 65,757 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in Brookfield Renewable during the fourth quarter worth approximately $1,263,000. Oak Thistle LLC purchased a new stake in Brookfield Renewable during the fourth quarter worth approximately $1,116,000. Vanguard Group Inc. increased its position in shares of Brookfield Renewable by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 6,095,578 shares of the company's stock worth $233,817,000 after acquiring an additional 90,863 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Brookfield Renewable by 225.2% in the fourth quarter. UBS Group AG now owns 1,802,162 shares of the company's stock worth $69,095,000 after acquiring an additional 1,247,953 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Price Performance

NYSE BEPC opened at $32.06 on Thursday. The company's fifty day simple moving average is $36.52 and its 200-day simple moving average is $39.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33. Brookfield Renewable Corporation has a 52 week low of $31.82 and a 52 week high of $45.18.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BEPC shares. Weiss Ratings lowered shares of Brookfield Renewable from a "sell (d)" rating to a "sell (e+)" rating in a report on Monday, May 4th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $38.00 price objective on shares of Brookfield Renewable in a research report on Tuesday, July 21st. Finally, Barclays boosted their price objective on Brookfield Renewable from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $39.67.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation NYSE: BEPC is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company's operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.

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