Gotham Asset Management LLC Decreases Stake in Brookfield Renewable Corporation $BEPC

Key Points

• Gotham Asset Management LLC reduced its stake in Brookfield Renewable Corporation by 42.9%, selling 348,722 shares, leaving them with a total of approximately 464,149 shares worth $12.96 million.
• Brookfield Renewable recently declared a quarterly dividend of $0.373, which yields 4.5% and will be paid on September 30th.
• Analysts are optimistic about the stock, with Morgan Stanley raising their target price to $39.00 and indicating an "overweight" rating, while the average consensus price target currently stands at $35.00.

Gotham Asset Management LLC lessened its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 42.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 464,149 shares of the company's stock after selling 348,722 shares during the quarter. Gotham Asset Management LLC owned about 0.32% of Brookfield Renewable worth $12,959,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MAI Capital Management increased its holdings in Brookfield Renewable by 59.0% in the 1st quarter. MAI Capital Management now owns 951 shares of the company's stock worth $27,000 after buying an additional 353 shares during the period. New England Capital Financial Advisors LLC acquired a new position in Brookfield Renewable in the 1st quarter worth approximately $28,000. Monetary Management Group Inc. acquired a new position in Brookfield Renewable in the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB increased its holdings in Brookfield Renewable by 43.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company's stock worth $35,000 after buying an additional 374 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of Brookfield Renewable during the 1st quarter worth approximately $52,000. Institutional investors and hedge funds own 75.12% of the company's stock.

Analysts Set New Price Targets

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

Brookfield Renewable Price Performance

Brookfield Renewable stock traded down $0.15 during trading on Friday, reaching $33.73. The company had a trading volume of 161,832 shares, compared to its average volume of 990,503. The firm's 50-day simple moving average is $34.32 and its 200 day simple moving average is $30.84. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $37.00. The firm has a market capitalization of $4.89 billion, a PE ratio of -37.92 and a beta of 1.13. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a $0.373 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a yield of 4.4%. Brookfield Renewable's dividend payout ratio (DPR) is currently -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.