Ameriprise Financial Inc. Sells 46,682 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Ameriprise Financial Inc. lessened its stake in Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 61.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,865 shares of the company's stock after selling 46,682 shares during the period. Ameriprise Financial Inc.'s holdings in Brookfield Renewable were worth $798,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Brookfield Renewable by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company's stock worth $154,464,000 after purchasing an additional 106,880 shares during the period. Parnassus Investments LLC grew its position in Brookfield Renewable by 46.6% in the 4th quarter. Parnassus Investments LLC now owns 3,910,496 shares of the company's stock worth $108,164,000 after purchasing an additional 1,242,858 shares during the period. ClearBridge Investments Ltd grew its position in Brookfield Renewable by 31.1% in the 4th quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company's stock worth $80,071,000 after purchasing an additional 686,319 shares during the period. Epoch Investment Partners Inc. grew its position in shares of Brookfield Renewable by 27.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company's stock valued at $62,295,000 after acquiring an additional 490,448 shares during the period. Finally, Robeco Schweiz AG bought a new stake in shares of Brookfield Renewable during the 4th quarter valued at $55,680,000. Institutional investors own 75.12% of the company's stock.

Brookfield Renewable Stock Performance

Shares of BEPC stock traded down $1.00 during mid-day trading on Wednesday, reaching $29.53. 1,253,349 shares of the company's stock traded hands, compared to its average volume of 950,214. Brookfield Renewable Co. has a 12 month low of $23.73 and a 12 month high of $35.14. The firm has a 50 day moving average price of $28.05 and a two-hundred day moving average price of $28.19. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27. The firm has a market capitalization of $4.28 billion, a PE ratio of -33.18 and a beta of 1.15.

Brookfield Renewable Announces Dividend

The firm also recently disclosed 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. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable's payout ratio is -167.42%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BEPC. Wells Fargo & Company cut 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 report on Monday, May 5th. Barclays began coverage on shares of Brookfield Renewable in a research report on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 price objective for the company.

About Brookfield Renewable

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.