Carmel Capital Partners LLC trimmed its position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 58.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,229 shares of the company's stock after selling 22,942 shares during the period. Carmel Capital Partners LLC's holdings in Brookfield Renewable were worth $532,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of BEPC. GAMMA Investing LLC bought a new position in shares of Brookfield Renewable in the 1st quarter valued at $81,000. SG Americas Securities LLC acquired a new stake in Brookfield Renewable during the 1st quarter worth about $789,000. Janney Montgomery Scott LLC acquired a new stake in Brookfield Renewable during the 1st quarter worth about $532,000. Abundance Wealth Counselors grew its holdings in Brookfield Renewable by 6.5% during the 1st quarter. Abundance Wealth Counselors now owns 56,766 shares of the company's stock worth $1,585,000 after acquiring an additional 3,449 shares during the period. Finally, Spirit of America Management Corp NY grew its stake in shares of Brookfield Renewable by 93.0% in the 1st quarter. Spirit of America Management Corp NY now owns 4,150 shares of the company's stock valued at $116,000 after buying an additional 2,000 shares during the period. 75.12% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have recently commented on BEPC. Weiss Ratings restated a "sell (d)" rating on shares of Brookfield Renewable in a research note on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Brookfield Renewable from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $36.50.
Get Our Latest Stock Analysis on Brookfield Renewable
Brookfield Renewable Stock Down 2.3%
Brookfield Renewable stock opened at $39.91 on Friday. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $41.73. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of -44.84 and a beta of 1.21. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. The firm has a 50 day simple moving average of $35.00 and a 200 day simple moving average of $32.28.
Brookfield Renewable Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 29th were paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Friday, August 29th. Brookfield Renewable's payout ratio is currently -167.42%.
Brookfield Renewable Profile
(
Free Report)
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.
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