Wealth Enhancement Advisory Services LLC Reduces Position in Brookfield Renewable Corporation (NYSE:BEPC)

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) by 34.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,456 shares of the company's stock after selling 10,749 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Brookfield Renewable were worth $571,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of BEPC. Norges Bank bought a new stake in Brookfield Renewable in the fourth quarter valued at about $47,478,000. Parnassus Investments LLC increased its holdings in Brookfield Renewable by 46.6% in the fourth quarter. Parnassus Investments LLC now owns 3,910,496 shares of the company's stock valued at $108,164,000 after buying an additional 1,242,858 shares during the last quarter. ClearBridge Investments Ltd increased its holdings in Brookfield Renewable by 31.1% in the fourth quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company's stock valued at $80,071,000 after buying an additional 686,319 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in Brookfield Renewable by 27.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company's stock valued at $62,295,000 after buying an additional 490,448 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in Brookfield Renewable by 135.0% in the fourth quarter. Voloridge Investment Management LLC now owns 668,096 shares of the company's stock valued at $18,480,000 after buying an additional 383,787 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on BEPC shares. Wells Fargo & Company lowered their price objective on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Barclays started coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $31.00 price objective for the company.

Brookfield Renewable Stock Up 2.4%

NYSE:BEPC opened at $34.00 on Friday. The firm has a market capitalization of $4.93 billion, a PE ratio of -38.20 and a beta of 1.16. The stock has a 50 day moving average of $30.41 and a 200-day moving average of $28.41. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $35.14. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Renewable's dividend payout ratio (DPR) is presently -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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