Sei Investments Co. Grows Stock Position in Brookfield Renewable Corporation $BEPC

Key Points

• Institutional investors increased their exposure: Sei Investments raised its Brookfield Renewable stake by 84.7% to 156,629 shares, while several other funds also added positions. Institutions collectively own 75.12% of BEPC.
• BEPC shares traded at $34.22, near the lower end of their 52-week range of $31.82 to $45.18. The company announced a quarterly dividend of $0.392 per share, representing a 4.6% annualized yield.
• Analyst sentiment remains cautious: Recent ratings include two Holds and two Sells, producing a consensus “Reduce” rating and an average price target of $39.00.

Sei Investments Co. boosted its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 84.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 156,629 shares of the company's stock after acquiring an additional 71,815 shares during the period. Sei Investments Co. owned 0.11% of Brookfield Renewable worth $6,239,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in shares of Brookfield Renewable in the 1st quarter valued at $756,000. Integrated Wealth Concepts LLC purchased a new stake in Brookfield Renewable in the 1st quarter valued at about $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Brookfield Renewable by 115.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,963 shares of the company's stock valued at $1,813,000 after buying an additional 34,799 shares during the period. Goldman Sachs Group Inc. lifted its position in Brookfield Renewable by 32.7% in the first quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company's stock valued at $17,995,000 after buying an additional 158,771 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Brookfield Renewable by 2.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,020 shares of the company's stock valued at $6,310,000 after buying an additional 4,768 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Price Performance

Shares of NYSE:BEPC opened at $34.22 on Tuesday. Brookfield Renewable Corporation has a 52 week low of $31.82 and a 52 week high of $45.18. The company's 50 day moving average is $36.28 and its two-hundred day moving average is $38.93. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.392 per share. The ex-dividend date is Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.6%.

Wall Street Analyst Weigh In

BEPC has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Brookfield Renewable in a research report on Friday. Wall Street Zen upgraded shares of Brookfield Renewable from a "sell" rating to a "hold" rating in a report on Saturday. Finally, JPMorgan Chase & Co. cut their target price on Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Monday. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $39.00.

Brookfield Renewable Company Profile

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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