Brookfield Renewable Corporation (NYSE:BEPC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 32.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 398,772 shares of the company's stock after selling 187,830 shares during the period. Envestnet Asset Management Inc. owned about 0.28% of Brookfield Renewable worth $11,133,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB increased its stake in Brookfield Renewable by 43.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock valued at $35,000 after purchasing an additional 374 shares during the last quarter. Dunhill Financial LLC bought a new stake in Brookfield Renewable during the fourth quarter valued at $41,000. Measured Risk Portfolios Inc. bought a new stake in Brookfield Renewable during the fourth quarter valued at $52,000. Quadrant Capital Group LLC increased its stake in Brookfield Renewable by 152.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,013 shares of the company's stock valued at $56,000 after purchasing an additional 1,217 shares during the last quarter. Finally, Tsfg LLC increased its stake in Brookfield Renewable by 97.9% during the first quarter. Tsfg LLC now owns 2,050 shares of the company's stock valued at $57,000 after purchasing an additional 1,014 shares during the last quarter. Institutional investors own 75.12% of the company's stock.

Analysts Set New Price Targets

BEPC has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday. Barclays initiated 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 target for the company. Finally, Wells Fargo & Company lowered 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 Stock Performance

Shares of Brookfield Renewable stock traded up $0.43 during trading on Wednesday, hitting $36.93. 630,861 shares of the stock were exchanged, compared to its average volume of 974,402. The stock's fifty day moving average is $31.87 and its 200 day moving average is $28.94. The stock has a market cap of $5.35 billion, a PE ratio of -41.50 and a beta of 1.16. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 0.25. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $36.95.

Brookfield Renewable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were issued a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 4.04%. The ex-dividend date was Friday, May 30th. Brookfield Renewable's payout ratio is currently -167.42%.

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.