BKM Wealth Management LLC Sells 294 Shares of Brookfield Renewable Corporation $BEPC

BKM Wealth Management LLC cut its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,672 shares of the company’s stock after selling 294 shares during the period. BKM Wealth Management LLC’s holdings in Brookfield Renewable were worth $645,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Brookfield Renewable by 2.4% in the first quarter. Vanguard Group Inc. now owns 5,717,397 shares of the company’s stock valued at $159,596,000 after acquiring an additional 135,776 shares in the last quarter. Parnassus Investments LLC lifted its stake in Brookfield Renewable by 24.2% in the first quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company’s stock valued at $135,574,000 after purchasing an additional 945,297 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Brookfield Renewable by 6.0% in the first quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company’s stock valued at $123,713,000 after purchasing an additional 251,310 shares during the last quarter. Robeco Schweiz AG lifted its stake in Brookfield Renewable by 1.7% in the first quarter. Robeco Schweiz AG now owns 2,048,008 shares of the company’s stock valued at $57,180,000 after purchasing an additional 35,008 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Brookfield Renewable by 4.7% in 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 during the last quarter. 75.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BEPC has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Renewable in a research note on Wednesday, October 8th. Morgan Stanley upped their price objective on Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. upped their price objective on Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.50.

Brookfield Renewable Trading Down 2.3%

NYSE:BEPC opened at $39.91 on Friday. The company has a market cap of $5.78 billion, a P/E ratio of -44.84 and a beta of 1.21. The stock’s fifty day moving average price is $35.00 and its two-hundred day moving average price is $32.31. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $41.73. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.27 and a quick ratio of 0.27.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were given a dividend of $0.373 per share. The ex-dividend date was Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 3.7%. Brookfield Renewable’s dividend payout ratio is currently -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.