DAVENPORT & Co LLC Sells 8,456 Shares of Brookfield Renewable Corporation (NYSE:BEPC)

DAVENPORT & Co LLC cut its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 263,123 shares of the company's stock after selling 8,456 shares during the period. DAVENPORT & Co LLC owned about 0.18% of Brookfield Renewable worth $7,345,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BEPC. JPMorgan Chase & Co. boosted its position in Brookfield Renewable by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 588,262 shares of the company's stock valued at $16,271,000 after acquiring an additional 16,304 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Brookfield Renewable by 15.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company's stock valued at $863,000 after acquiring an additional 4,190 shares during the last quarter. Vanguard Group Inc. boosted its position in Brookfield Renewable by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company's stock valued at $154,464,000 after acquiring an additional 106,880 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Brookfield Renewable by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 369,645 shares of the company's stock valued at $10,224,000 after acquiring an additional 3,066 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Brookfield Renewable during the fourth quarter valued at $510,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Stock Performance

Shares of BEPC traded up $0.79 during mid-day trading on Friday, reaching $34.00. 1,201,208 shares of the stock traded hands, compared to its average volume of 967,784. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $35.14. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average price of $30.41 and a 200 day moving average price of $28.41.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Renewable's dividend payout ratio is currently -167.42%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays assumed coverage on shares of Brookfield Renewable in a research report on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 price objective on the stock. Wells Fargo & Company reduced their price target on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, May 5th.

Brookfield Renewable Profile

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.