Brookfield Renewable Corporation $BEPC Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in Brookfield Renewable by 22.2% in Q4, selling 117,880 shares and now holds 412,931 shares (~0.29% of the company) valued at $15.83 million.
• Brookfield Renewable raised its quarterly dividend to $0.392 ($1.57 annualized), yielding about 3.7%, up from the prior quarterly payout of $0.37.
• Analysts are mixed: MarketBeat shows an average Hold rating with a $38.50 average price target (two Buys, one Hold, two Sells), while recent notes include Barclays lifting its target to $36 and Morgan Stanley maintaining an underweight stance.

Baillie Gifford & Co. decreased its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 22.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 412,931 shares of the company's stock after selling 117,880 shares during the period. Baillie Gifford & Co. owned approximately 0.29% of Brookfield Renewable worth $15,832,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Brookfield Renewable during the 4th quarter valued at about $27,000. Princeton Global Asset Management LLC increased its stake in Brookfield Renewable by 102.5% during the 4th 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 during the period. Smartleaf Asset Management LLC increased its stake in Brookfield Renewable by 191.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company's stock valued at $35,000 after buying an additional 655 shares during the period. EverSource Wealth Advisors LLC increased its stake in Brookfield Renewable by 88.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company's stock valued at $38,000 after buying an additional 543 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Brookfield Renewable by 180.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company's stock worth $58,000 after purchasing an additional 1,091 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BEPC. Barclays lifted their price objective on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Morgan Stanley reaffirmed an "underweight" rating and issued a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Finally, Wall Street Zen cut shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Brookfield Renewable presently has an average rating of "Hold" and an average price target of $38.50.

Brookfield Renewable Trading Down 1.6%

Shares of BEPC opened at $41.89 on Tuesday. The firm's 50 day moving average is $41.50 and its 200-day moving average is $40.42. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.35. Brookfield Renewable Corporation has a 12-month low of $26.17 and a 12-month high of $45.18.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were given a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 3.7%. This is an increase from Brookfield Renewable's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 27th.

Brookfield Renewable 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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