ASR Vermogensbeheer N.V. Has $12.38 Million Stake in Brookfield Renewable Corporation $BEPC

Key Points

• ASR Vermogensbeheer N.V. cut its Brookfield Renewable stake by 64.7% in the fourth quarter, selling 589,879 shares and leaving it with 322,319 shares valued at about $12.38 million.
• Institutional ownership remains high, with several funds either adding to or initiating positions; overall, institutional investors and hedge funds own 75.12% of Brookfield Renewable.
• Analyst sentiment is mixed but cautious: the stock has a consensus rating of “Reduce” and an average price target of $42.33, while BEPC recently traded at $36.71 and pays a quarterly dividend yielding about 4.3%.

ASR Vermogensbeheer N.V. lowered its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 64.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 322,319 shares of the company's stock after selling 589,879 shares during the period. ASR Vermogensbeheer N.V. owned approximately 0.22% of Brookfield Renewable worth $12,380,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in Brookfield Renewable during the first quarter worth $756,000. Integrated Wealth Concepts LLC bought a new position in Brookfield Renewable during the first quarter worth about $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Brookfield Renewable by 115.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,963 shares of the company's stock valued at $1,813,000 after purchasing an additional 34,799 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Brookfield Renewable by 32.7% during the first quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company's stock valued at $17,995,000 after purchasing an additional 158,771 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Brookfield Renewable by 2.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,020 shares of the company's stock valued at $6,310,000 after purchasing an additional 4,768 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BEPC. Weiss Ratings downgraded shares of Brookfield Renewable from a "sell (d)" rating to a "sell (e+)" rating in a research note on Monday. Barclays increased their price target on Brookfield Renewable from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, January 23rd. Wall Street Zen cut Brookfield Renewable from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Morgan Stanley reiterated an "underweight" rating and issued a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Brookfield Renewable from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Brookfield Renewable currently has a consensus rating of "Reduce" and an average price target of $42.33.

Brookfield Renewable Trading Down 1.2%

NYSE BEPC opened at $36.71 on Friday. The firm has a 50-day moving average price of $40.60 and a two-hundred day moving average price of $40.69. Brookfield Renewable Corporation has a 12-month low of $27.72 and a 12-month high of $45.18. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.26.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.392 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.57 annualized dividend and a yield of 4.3%.

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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