First Manhattan CO. LLC. Sells 15,738 Shares of Brookfield Renewable Corporation $BEPC

Key Points

• First Manhattan CO. LLC. has reduced its holdings in Brookfield Renewable Corporation by 17.5%, selling 15,738 shares and now owning around 0.05% of the company valued at approximately $2,067,000.
• Several other institutional investors have changed their positions, with MAI Capital Management increasing its stake by 59%, while new investments were made by New England Capital Financial Advisors LLC and Monetary Management Group Inc.
• Brookfield Renewable recently announced a quarterly dividend of $0.373, with a yield of 4.5%, despite having a negative dividend payout ratio of -167.42%.

First Manhattan CO. LLC. trimmed its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 17.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,035 shares of the company's stock after selling 15,738 shares during the period. First Manhattan CO. LLC. owned about 0.05% of Brookfield Renewable worth $2,067,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BEPC. MAI Capital Management boosted its position in Brookfield Renewable by 59.0% during the first quarter. MAI Capital Management now owns 951 shares of the company's stock valued at $27,000 after buying an additional 353 shares during the period. New England Capital Financial Advisors LLC purchased a new stake in Brookfield Renewable during the first quarter valued at about $28,000. Monetary Management Group Inc. purchased a new stake in Brookfield Renewable during the first quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB boosted its position 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 buying an additional 374 shares during the period. Finally, Dunhill Financial LLC bought a new position in shares of Brookfield Renewable during the fourth quarter valued at about $41,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Stock Down 0.2%

Shares of NYSE BEPC traded down $0.08 on Monday, reaching $33.13. 190,355 shares of the company's stock traded hands, compared to its average volume of 997,772. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $37.00. The business's 50 day simple moving average is $34.28 and its two-hundred day simple moving average is $30.72. The company has a market cap of $4.80 billion, a price-to-earnings ratio of -37.27 and a beta of 1.13. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19.

Brookfield Renewable Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.5%. Brookfield Renewable's dividend payout ratio is presently -167.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BEPC shares. Morgan Stanley upped their price objective on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.00.

About Brookfield Renewable

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.