ArrowMark Colorado Holdings LLC Sells 43,000 Shares of Brookfield Renewable Corporation $BEPC

ArrowMark Colorado Holdings LLC decreased its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 401,300 shares of the company’s stock after selling 43,000 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.28% of Brookfield Renewable worth $13,813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BEPC. Smartleaf Asset Management LLC raised its position in Brookfield Renewable by 191.5% during the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after purchasing an additional 655 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Brookfield Renewable by 88.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after purchasing an additional 543 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in shares of Brookfield Renewable in the 2nd quarter valued at $42,000. Farther Finance Advisors LLC increased its stake in shares of Brookfield Renewable by 180.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company’s stock valued at $58,000 after purchasing an additional 1,091 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Brookfield Renewable in the 3rd quarter valued at $81,000. 75.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BEPC shares. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Wall Street Zen upgraded Brookfield Renewable from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Morgan Stanley increased their target price on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Finally, Barclays raised their price target on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.00.

Brookfield Renewable Stock Down 3.6%

Shares of BEPC opened at $39.19 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.26 and a current ratio of 0.26. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $45.18. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of -44.03 and a beta of 1.24. The stock has a fifty day moving average of $41.05 and a 200-day moving average of $39.41.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a $0.392 dividend. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, February 27th. Brookfield Renewable’s dividend payout ratio is -175.28%.

About Brookfield Renewable

Brookfield Renewable Corporation (NYSE: BEPC) is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company’s operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.