Hussman Strategic Advisors Inc. Invests $1.61 Million in Brookfield Renewable Corporation $BEPC

Key Points

• Hussman Strategic Advisors opened a new position in Brookfield Renewable (NYSE:BEPC), acquiring 42,000 shares worth about $1.61 million in the fourth quarter.
• Institutional ownership is high at 75.12%, with large funds like Vanguard, Parnassus, Principal, Legal & General and CPP all increasing their stakes recently.
• Analyst sentiment is mixed — the consensus is a "Hold" with a target of $39.75 — while the stock recently traded at about $35.16, below its 50‑ and 200‑day averages and down roughly 3% on the day.

Hussman Strategic Advisors Inc. acquired a new position in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 42,000 shares of the company's stock, valued at approximately $1,610,000.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Brookfield Renewable by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 6,095,578 shares of the company's stock worth $233,817,000 after purchasing an additional 90,863 shares in the last quarter. Parnassus Investments LLC lifted its position in shares of Brookfield Renewable by 1.4% in the third quarter. Parnassus Investments LLC now owns 5,337,630 shares of the company's stock worth $183,721,000 after purchasing an additional 74,543 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Renewable by 2.7% in the third quarter. Principal Financial Group Inc. now owns 4,646,524 shares of the company's stock worth $159,935,000 after purchasing an additional 121,328 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Brookfield Renewable by 3.1% in the third quarter. Legal & General Group Plc now owns 3,944,804 shares of the company's stock worth $135,830,000 after purchasing an additional 117,058 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Brookfield Renewable by 49.6% in the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company's stock worth $97,457,000 after purchasing an additional 985,442 shares in the last quarter. Institutional investors own 75.12% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BEPC shares. Barclays boosted their price objective on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, January 23rd. Morgan Stanley reaffirmed an "underweight" rating and set a $42.00 price target (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. Wall Street Zen lowered shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable from $48.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $39.75.

Brookfield Renewable Stock Down 3.0%

Shares of BEPC opened at $35.16 on Friday. The company's 50-day moving average is $40.96 and its 200-day moving average is $40.75. Brookfield Renewable Corporation has a fifty-two week low of $27.27 and a fifty-two week high of $45.18. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.26 and a quick ratio of 0.26.

About Brookfield Renewable

Brookfield Renewable Corporation NYSE: BEPC is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company's operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.

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