Compass Financial Management LLC Purchases 85,889 Shares of Brookfield Renewable Corporation $BEPC

Key Points

• Compass Financial Management opened a new Brookfield Renewable stake, buying 85,889 shares worth about $2.42 million, or roughly 0.06% of the company.
• Institutional investors own 75.12% of Brookfield Renewable, with several funds recently increasing their holdings.
• Analyst sentiment is cautious: MarketBeat’s average rating is “Reduce,” with a $36 price target; the shares recently opened at $31.51.

Compass Financial Management LLC acquired a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 85,889 shares of the company's stock, valued at approximately $2,424,000. Compass Financial Management LLC owned about 0.06% of Brookfield Renewable as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Baird Financial Group Inc. grew its position in shares of Brookfield Renewable by 11.4% in the second quarter. Baird Financial Group Inc. now owns 3,335,117 shares of the company's stock valued at $123,800,000 after purchasing an additional 340,103 shares during the period. Edgestream Partners L.P. acquired a new position in Brookfield Renewable in the first quarter valued at $10,264,000. Walleye Capital LLC increased its stake in Brookfield Renewable by 309.4% in the first quarter. Walleye Capital LLC now owns 300,983 shares of the company's stock valued at $11,988,000 after purchasing an additional 227,465 shares during the last quarter. Quantinno Capital Management LP increased its stake in Brookfield Renewable by 134.8% in the first quarter. Quantinno Capital Management LP now owns 176,687 shares of the company's stock valued at $7,037,000 after purchasing an additional 101,422 shares during the last quarter. Finally, Swiss National Bank lifted its position in Brookfield Renewable by 27.0% during the first quarter. Swiss National Bank now owns 463,350 shares of the company's stock worth $18,439,000 after buying an additional 98,600 shares during the period. Hedge funds and other institutional investors own 75.12% of the company's stock.

Brookfield Renewable Stock Up 2.5%

Brookfield Renewable stock opened at $31.51 on Thursday. The stock's 50 day moving average price is $29.87 and its 200 day moving average price is $36.26. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.40 and a quick ratio of 0.40. Brookfield Renewable Corporation has a one year low of $27.57 and a one year high of $45.18.

Wall Street Analysts Forecast Growth

BEPC has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Brookfield Renewable from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, October 19th. Wall Street Zen downgraded shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a research note on Sunday, August 9th. Morgan Stanley decreased their price target on shares of Brookfield Renewable from $42.00 to $37.00 and set an "underweight" rating on the stock in a report on Tuesday, October 13th. Weiss Ratings reissued a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Thursday, October 29th. Finally, Barclays boosted 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 note on Wednesday, July 22nd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Brookfield Renewable has an average rating of "Reduce" and an average target price of $36.00.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation NYSE: BEPC is a renewable power and sustainable solutions company that provides investors with an interest in the Brookfield Renewable platform. The company owns and operates a diversified portfolio of renewable energy assets and is part of Brookfield Asset Management's global renewable power business.

Its activities include the development, ownership and operation of hydroelectric, wind, solar and distributed energy facilities, as well as energy storage and other renewable power infrastructure.

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