First Manhattan CO. LLC. Has $2.48 Million Holdings in Brookfield Renewable Co. (NYSE:BEPC)

First Manhattan CO. LLC. cut its stake in Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,773 shares of the company's stock after selling 19,045 shares during the period. First Manhattan CO. LLC. owned approximately 0.06% of Brookfield Renewable worth $2,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Curio Wealth LLC acquired a new position in shares of Brookfield Renewable during the 4th quarter worth about $26,000. Atala Financial Inc acquired a new position in shares of Brookfield Renewable during the 4th quarter worth about $27,000. Dunhill Financial LLC acquired a new position in shares of Brookfield Renewable during the 4th quarter worth about $41,000. Quadrant Capital Group LLC increased its stake in shares of Brookfield Renewable by 152.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,013 shares of the company's stock worth $56,000 after purchasing an additional 1,217 shares during the last quarter. Finally, Spirit of America Management Corp NY increased its stake in shares of Brookfield Renewable by 87.0% during the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company's stock worth $59,000 after purchasing an additional 1,000 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BEPC has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their price target on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Barclays assumed coverage on shares of Brookfield Renewable in a research note on Wednesday, April 2nd. They issued an "equal weight" rating and a $31.00 price target on the stock.

Brookfield Renewable Stock Performance

BEPC traded up $0.21 on Friday, reaching $29.97. The company had a trading volume of 417,184 shares, compared to its average volume of 937,399. Brookfield Renewable Co. has a fifty-two week low of $23.73 and a fifty-two week high of $35.14. The stock has a market cap of $4.34 billion, a P/E ratio of -33.67 and a beta of 1.15. The company's fifty day moving average is $27.86 and its 200 day moving average is $28.31. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.98%. Brookfield Renewable's payout ratio 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.