Belpointe Asset Management LLC Sells 1,003 Shares of Brookfield Renewable Corporation $BEPC

Belpointe Asset Management LLC cut its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,102 shares of the company’s stock after selling 1,003 shares during the quarter. Belpointe Asset Management LLC’s holdings in Brookfield Renewable were worth $254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board increased its holdings in shares of Brookfield Renewable by 177.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,987,332 shares of the company’s stock worth $55,486,000 after purchasing an additional 1,270,946 shares during the last quarter. Parnassus Investments LLC boosted its position in shares of Brookfield Renewable by 24.2% during the first quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company’s stock valued at $135,574,000 after buying an additional 945,297 shares during the period. ASR Vermogensbeheer N.V. purchased a new position in shares of Brookfield Renewable during the first quarter valued at approximately $25,186,000. Northern Trust Corp boosted its position in shares of Brookfield Renewable by 111.5% during the first quarter. Northern Trust Corp now owns 1,599,275 shares of the company’s stock valued at $44,652,000 after buying an additional 843,210 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Brookfield Renewable during the first quarter valued at approximately $11,486,000. 75.12% of the stock is owned by institutional investors.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $34.49 on Tuesday. Brookfield Renewable Corporation has a one year low of $23.73 and a one year high of $37.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -38.75 and a beta of 1.13. The firm’s fifty day moving average is $34.33 and its two-hundred day moving average is $30.96.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable’s dividend payout ratio is presently -167.42%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BEPC. JPMorgan Chase & Co. boosted their target price on Brookfield Renewable from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Morgan Stanley lifted their price target on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Brookfield Renewable presently has an average rating of “Moderate Buy” and an average 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.