Shell Asset Management Co. Sells 39,708 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Shell Asset Management Co. cut its position in shares of Brookfield Renewable Co. (NYSE:BEPC - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,223 shares of the company's stock after selling 39,708 shares during the quarter. Shell Asset Management Co. owned 0.13% of Brookfield Renewable worth $5,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Brookfield Renewable by 3.5% in the third quarter. Barclays PLC now owns 173,871 shares of the company's stock valued at $5,678,000 after purchasing an additional 5,857 shares during the period. SeaCrest Wealth Management LLC grew its holdings in shares of Brookfield Renewable by 7.0% during the 4th quarter. SeaCrest Wealth Management LLC now owns 10,013 shares of the company's stock valued at $277,000 after purchasing an additional 653 shares during the last quarter. Paragon Capital Management Ltd boosted its holdings in shares of Brookfield Renewable by 19.0% during the 4th quarter. Paragon Capital Management Ltd now owns 36,753 shares of the company's stock valued at $1,017,000 after acquiring an additional 5,878 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Brookfield Renewable during the fourth quarter worth about $287,000. Finally, LongView Wealth Management bought a new position in shares of Brookfield Renewable during the fourth quarter valued at $215,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Stock Down 1.8%

Shares of BEPC traded down $0.52 during trading hours on Wednesday, hitting $29.31. The company had a trading volume of 415,508 shares, compared to its average volume of 939,820. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -32.93 and a beta of 1.15. The firm has a fifty day moving average price of $27.94 and a 200-day moving average price of $28.28. Brookfield Renewable Co. has a 52-week low of $23.73 and a 52-week high of $35.14. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 annualized dividend and a dividend yield of 5.09%. Brookfield Renewable's payout ratio is -0.15%.

Analyst Upgrades and Downgrades

BEPC has been the subject of several research 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 for the company in a research note on Thursday, January 23rd. Wells Fargo & Company lowered their target price on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Barclays began coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 price objective for the company.

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.