Pinebridge Investments L.P. Reduces Stock Position in Brookfield Renewable Co. (NYSE:BEPC)

Pinebridge Investments L.P. trimmed its holdings in shares of Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 83.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,496 shares of the company's stock after selling 139,455 shares during the period. Pinebridge Investments L.P.'s holdings in Brookfield Renewable were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Curio Wealth LLC purchased a new stake in shares of Brookfield Renewable in the fourth quarter valued at $26,000. Atala Financial Inc acquired a new stake in shares of Brookfield Renewable in the 4th quarter valued at about $27,000. Quadrant Capital Group LLC raised its position 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 valued at $56,000 after acquiring an additional 1,217 shares in the last quarter. Spirit of America Management Corp NY raised its position 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 period. Finally, Signaturefd LLC grew its holdings in Brookfield Renewable by 58.8% in the 4th quarter. Signaturefd LLC now owns 3,480 shares of the company's stock worth $96,000 after buying an additional 1,288 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company's stock.

Brookfield Renewable Stock Down 1.6 %

Shares of Brookfield Renewable stock traded down $0.45 on Friday, hitting $28.23. The company had a trading volume of 814,787 shares, compared to its average volume of 964,681. The firm has a market capitalization of $4.09 billion, a P/E ratio of -31.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.27 and a quick ratio of 0.51. Brookfield Renewable Co. has a twelve month low of $23.73 and a twelve month high of $35.14. The stock has a 50-day moving average of $27.67 and a 200-day moving average of $28.62.

Brookfield Renewable (NYSE:BEPC - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a negative return on equity of 0.06% and a negative net margin of 0.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BEPC shares. JPMorgan Chase & Co. reduced their target price on Brookfield Renewable from $34.00 to $32.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Barclays assumed coverage on Brookfield Renewable in a research report on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on shares of Brookfield Renewable from $35.00 to $33.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd.

About Brookfield Renewable

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.