SummitTX Capital L.P. Sells 26,543 Shares of Brookfield Renewable Corporation $BEPC

SummitTX Capital L.P. lowered its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 79.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,792 shares of the company’s stock after selling 26,543 shares during the quarter. SummitTX Capital L.P.’s holdings in Brookfield Renewable were worth $271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BEPC. Epoch Investment Partners Inc. boosted its position in Brookfield Renewable by 0.3% during the first quarter. Epoch Investment Partners Inc. now owns 1,264,009 shares of the company’s stock valued at $50,345,000 after purchasing an additional 3,600 shares during the last quarter. Inceptionr LLC bought a new position in Brookfield Renewable in the first quarter valued at approximately $304,000. Sei Investments Co. increased its position in shares of Brookfield Renewable by 84.7% during the 1st quarter. Sei Investments Co. now owns 156,629 shares of the company’s stock worth $6,239,000 after purchasing an additional 71,815 shares during the last quarter. Walleye Capital LLC increased its position in shares of Brookfield Renewable by 309.4% during the 1st quarter. Walleye Capital LLC now owns 300,983 shares of the company’s stock worth $11,988,000 after purchasing an additional 227,465 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Brookfield Renewable by 73.3% during the 1st quarter. Cetera Investment Advisers now owns 72,473 shares of the company’s stock worth $2,887,000 after purchasing an additional 30,662 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on BEPC shares. Weiss Ratings downgraded Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Wall Street Zen raised shares of Brookfield Renewable from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays boosted their target price on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $38.00 price target on shares of Brookfield Renewable in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $39.67.

Brookfield Renewable Stock Up 0.8%

BEPC stock opened at $33.41 on Friday. Brookfield Renewable Corporation has a one year low of $31.82 and a one year high of $45.18. The company has a fifty day moving average price of $36.35 and a two-hundred day moving average price of $38.96. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.81.

Brookfield Renewable Company 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.