Brookfield Renewable Corporation $BEPC Shares Acquired by Aventail Capital Group LP

Aventail Capital Group LP lifted its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 173.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 273,838 shares of the company’s stock after purchasing an additional 173,820 shares during the period. Aventail Capital Group LP’s holdings in Brookfield Renewable were worth $10,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BEPC. AQR Capital Management LLC acquired a new position in shares of Brookfield Renewable during the first quarter valued at approximately $756,000. Integrated Wealth Concepts LLC acquired a new position in shares of Brookfield Renewable during the first quarter valued at approximately $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Brookfield Renewable by 115.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,963 shares of the company’s stock valued at $1,813,000 after acquiring an additional 34,799 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Brookfield Renewable by 32.7% during the first quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company’s stock valued at $17,995,000 after acquiring an additional 158,771 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Brookfield Renewable by 2.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,020 shares of the company’s stock valued at $6,310,000 after acquiring an additional 4,768 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BEPC shares. Morgan Stanley reiterated an “underweight” rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. JPMorgan Chase & Co. raised their target price on shares of Brookfield Renewable from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Finally, Weiss Ratings cut shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Brookfield Renewable has an average rating of “Reduce” and a consensus price target of $42.33.

Brookfield Renewable Stock Down 1.0%

Shares of NYSE:BEPC opened at $35.94 on Thursday. Brookfield Renewable Corporation has a 1-year low of $31.19 and a 1-year high of $45.18. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33. The company has a 50 day moving average price of $38.87 and a 200 day moving average price of $39.81.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, May 29th.

Brookfield Renewable Profile

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.