Edgestream Partners L.P. Sells 257,253 Shares of Brookfield Renewable Corporation $BEPC

Edgestream Partners L.P. reduced its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 66.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,739 shares of the company’s stock after selling 257,253 shares during the period. Edgestream Partners L.P. owned 0.09% of Brookfield Renewable worth $4,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MAI Capital Management grew its holdings in shares of Brookfield Renewable by 59.0% during the 1st quarter. MAI Capital Management now owns 951 shares of the company’s stock worth $27,000 after acquiring an additional 353 shares during the period. Monetary Management Group Inc. purchased a new stake in Brookfield Renewable in the first quarter worth $28,000. Curio Wealth LLC raised its holdings in Brookfield Renewable by 95,300.0% in the second quarter. Curio Wealth LLC now owns 954 shares of the company’s stock worth $31,000 after purchasing an additional 953 shares in the last quarter. Employees Retirement System of Texas bought a new position in Brookfield Renewable in the second quarter worth $42,000. Finally, SVB Wealth LLC purchased a new position in Brookfield Renewable during the first quarter valued at $52,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BEPC. Morgan Stanley increased their price target on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday. Barclays boosted their price target on Brookfield Renewable from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price on Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.75.

Brookfield Renewable Stock Down 2.2%

Brookfield Renewable stock opened at $39.52 on Thursday. Brookfield Renewable Corporation has a 12 month low of $23.73 and a 12 month high of $45.10. The stock has a fifty day simple moving average of $40.33 and a two-hundred day simple moving average of $35.64. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of -44.41 and a beta of 1.23.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a $0.373 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.49 dividend on an annualized basis and a yield of 3.8%. Brookfield Renewable’s payout ratio is -167.42%.

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.