Brookfield Renewable Corporation $BEPC Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its Brookfield Renewable stake by 72.7% in the fourth quarter, selling 96,388 shares and leaving it with 36,145 shares worth about $1.39 million.
• Brookfield Renewable recently paid a quarterly dividend of $0.392 per share, equal to an annualized dividend of $1.57 and a yield of about 4.5%.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” with an average price target of $42.33, though JPMorgan recently raised its target to $49 and kept an overweight rating.

Hsbc Holdings PLC reduced its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 72.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,145 shares of the company's stock after selling 96,388 shares during the quarter. Hsbc Holdings PLC's holdings in Brookfield Renewable were worth $1,387,000 as of its most recent filing with the SEC.

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

Brookfield Renewable Stock Down 0.2%

BEPC opened at $35.01 on Monday. Brookfield Renewable Corporation has a twelve month low of $32.65 and a twelve month high of $45.18. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33. The business has a 50 day moving average price of $37.34 and a 200 day moving average price of $39.52.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were issued a $0.392 dividend. This represents a $1.57 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, May 29th.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BEPC shares. JPMorgan Chase & Co. increased their price target on shares of Brookfield Renewable from $48.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Morgan Stanley restated an "underweight" rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Wall Street Zen downgraded Brookfield Renewable from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Finally, Weiss Ratings lowered Brookfield Renewable from a "sell (d)" rating to a "sell (e+)" rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Brookfield Renewable presently has a consensus rating of "Reduce" and an average price target of $42.33.

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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