Arrowstreet Capital Limited Partnership Lowers Position in Brookfield Renewable Corporation $BEPC

Arrowstreet Capital Limited Partnership lessened its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 32.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,473,804 shares of the company’s stock after selling 696,735 shares during the period. Arrowstreet Capital Limited Partnership owned 1.02% of Brookfield Renewable worth $48,326,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Brookfield Renewable by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 5,717,397 shares of the company’s stock valued at $159,596,000 after buying an additional 135,776 shares in the last quarter. Parnassus Investments LLC raised its stake in Brookfield Renewable by 24.2% during the 1st quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company’s stock worth $135,574,000 after acquiring an additional 945,297 shares during the period. Legal & General Group Plc lifted its holdings in Brookfield Renewable by 10.8% during the second quarter. Legal & General Group Plc now owns 3,827,746 shares of the company’s stock valued at $125,179,000 after purchasing an additional 373,517 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Brookfield Renewable by 4.7% during the first quarter. Baird Financial Group Inc. now owns 2,022,268 shares of the company’s stock valued at $56,462,000 after purchasing an additional 91,367 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position 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 period. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $39.68 on Friday. The company has a market cap of $5.75 billion, a price-to-earnings ratio of -44.58 and a beta of 1.23. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $45.10. The stock’s 50 day simple moving average is $40.56 and its two-hundred day simple moving average is $35.73. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.39 and a quick ratio of 0.39.

Brookfield Renewable Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.