Brookfield Renewable Corporation $BEPC Shares Sold by Twin Tree Management LP

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 reduced its holdings in Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 91.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in Brookfield Renewable by 15.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company's stock valued at $863,000 after buying an additional 4,190 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Brookfield Renewable by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company's stock worth $13,533,000 after acquiring an additional 7,415 shares during the last quarter. LPL Financial LLC grew its holdings in Brookfield Renewable by 91.9% in the first quarter. LPL Financial LLC now owns 64,108 shares of the company's stock valued at $1,790,000 after purchasing an additional 30,704 shares during the period. BNP Paribas Financial Markets acquired a new position in Brookfield Renewable during the fourth quarter worth approximately $216,000. Finally, Janney Montgomery Scott LLC acquired a new position in Brookfield Renewable during the first quarter worth approximately $532,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Trading Down 1.3%

Shares of Brookfield Renewable stock traded down $0.42 during trading hours on Friday, hitting $33.20. The company's stock had a trading volume of 1,125,462 shares, compared to its average volume of 731,400. The business has a fifty day moving average of $34.28 and a 200 day moving average of $30.72. Brookfield Renewable Corporation has a 1-year low of $23.73 and a 1-year high of $37.00. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $4.81 billion, a PE ratio of -37.30 and a beta of 1.13.

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be given a $0.373 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 annualized dividend and a yield of 4.5%. Brookfield Renewable's dividend payout ratio (DPR) is -167.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Brookfield Renewable from $34.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Morgan Stanley lifted their target price on Brookfield Renewable from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Brookfield Renewable presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

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.