Twin Tree Management LP Cuts Position in Brookfield Renewable Corporation $BEPC

Key Points

• Twin Tree Management LP significantly decreased its position in Brookfield Renewable Corporation, cutting its holdings by 91.7% and now owns just 2,091 shares.
• Other institutional investors, like Vanguard Group Inc. and Parnassus Investments LLC, increased their stakes in Brookfield Renewable, with Vanguard owning over 5.7 million shares valued at approximately $159.6 million.
• Brookfield Renewable announced a quarterly dividend of $0.373 per share, indicating an annualized yield of 4.4%, but its dividend payout ratio stands at -167.42%.

Twin Tree Management LP decreased its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 91.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,091 shares of the company's stock after selling 23,209 shares during the quarter. Twin Tree Management LP's holdings in Brookfield Renewable were worth $58,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Brookfield Renewable by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 5,717,397 shares of the company's stock worth $159,596,000 after acquiring an additional 135,776 shares during the period. Parnassus Investments LLC grew its holdings in shares of Brookfield Renewable by 24.2% in the 1st quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company's stock worth $135,574,000 after acquiring an additional 945,297 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Brookfield Renewable by 6.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company's stock worth $123,713,000 after acquiring an additional 251,310 shares during the period. Robeco Schweiz AG grew its holdings in shares of Brookfield Renewable by 1.7% in the 1st quarter. Robeco Schweiz AG now owns 2,048,008 shares of the company's stock worth $57,180,000 after acquiring an additional 35,008 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Brookfield Renewable by 4.7% in the 1st quarter. Baird Financial Group Inc. now owns 2,022,268 shares of the company's stock worth $56,462,000 after acquiring an additional 91,367 shares during the period. Institutional investors and hedge funds own 75.12% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BEPC. JPMorgan Chase & Co. upped their price target on Brookfield Renewable from $34.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Morgan Stanley upped their price target on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Finally, Wells Fargo & Company lowered their price target on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Brookfield Renewable has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Brookfield Renewable Price Performance

Shares of NYSE:BEPC opened at $33.70 on Tuesday. The business's fifty day moving average price is $34.23 and its two-hundred day moving average price is $30.59. The stock has a market cap of $4.88 billion, a PE ratio of -37.87 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 Corporation has a one year low of $23.73 and a one year high of $37.00.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, August 29th. Brookfield Renewable's dividend payout ratio 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.

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