Arrowstreet Capital Limited Partnership Has $73.52 Million Stock Holdings in Brookfield Renewable Corporation $BEPC

Key Points

• Arrowstreet Capital reduced its Brookfield Renewable position by 19.1% in the first quarter, selling 436,805 shares. It still held 1.84 million shares worth approximately $73.5 million, or 1.25% of the company.
• Analyst sentiment remains cautious: Brookfield Renewable has an average “Reduce” rating, with two Hold and two Sell recommendations and a consensus price target of $39.67.
• BEPC shares opened at $33.58, near their 12-month low of $32.10, while the company’s quarterly dividend of $0.392 per share implies an annualized yield of about 4.7%.

Arrowstreet Capital Limited Partnership lowered its position in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 19.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,844,813 shares of the company's stock after selling 436,805 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.25% of Brookfield Renewable worth $73,524,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Motiv8 Investments LLC bought a new position in shares of Brookfield Renewable in the fourth quarter valued at approximately $25,000. Torren Management LLC acquired a new position in Brookfield Renewable in the fourth quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Brookfield Renewable during the fourth quarter worth $27,000. SHP Wealth Management acquired a new stake in shares of Brookfield Renewable in the fourth quarter valued at $30,000. Finally, Princeton Global Asset Management LLC increased its stake in shares of Brookfield Renewable by 102.5% in the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company's stock valued at $31,000 after buying an additional 405 shares in the last quarter. 75.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BEPC. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $38.00 price target on shares of Brookfield Renewable in a report on Tuesday, July 21st. Barclays raised their price objective on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, Weiss Ratings downgraded shares of Brookfield Renewable from a "sell (d)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $39.67.

Brookfield Renewable Price Performance

Shares of BEPC stock opened at $33.58 on Monday. The stock has a 50-day moving average price of $36.77 and a 200 day moving average price of $39.17. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.81. Brookfield Renewable Corporation has a 12 month low of $32.10 and a 12 month high of $45.18.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were issued a dividend of $0.392 per share. The ex-dividend date was Friday, May 29th. This represents a $1.57 annualized dividend and a yield of 4.7%.

About Brookfield Renewable

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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