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

Envestnet Asset Management Inc. cut its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 32.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 398,772 shares of the company's stock after selling 187,830 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.28% of Brookfield Renewable worth $11,133,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts have 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 target for the company. Wells Fargo & Company dropped their target price on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th.

Brookfield Renewable Trading Up 2.9%

BEPC stock traded up $1.04 during mid-day trading on Friday, reaching $36.34. The company had a trading volume of 1,350,388 shares, compared to its average volume of 974,767. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.25 and a quick ratio of 0.25. The company has a market capitalization of $5.27 billion, a PE ratio of -40.83 and a beta of 1.16. The firm has a 50 day moving average of $31.59 and a 200 day moving average of $28.83. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $36.45.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a $0.373 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.49 annualized dividend and a dividend yield of 4.11%. Brookfield Renewable's dividend payout ratio (DPR) is -167.42%.

Brookfield Renewable Company 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.