Brookfield Renewable Corporation $BEPC Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 84.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 156,629 shares of the company’s stock after acquiring an additional 71,815 shares during the quarter. Sei Investments Co.’s holdings in Brookfield Renewable were worth $6,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BEPC. Clearbridge Investments LLC raised its holdings in Brookfield Renewable by 103.3% during the fourth quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company’s stock worth $353,183,000 after purchasing an additional 4,681,203 shares in the last quarter. Norges Bank purchased a new position in shares of Brookfield Renewable in the 4th quarter valued at $68,132,000. UBS Group AG grew its position in shares of Brookfield Renewable by 225.2% in the 4th quarter. UBS Group AG now owns 1,802,162 shares of the company’s stock valued at $69,095,000 after buying an additional 1,247,953 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Brookfield Renewable by 49.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock worth $97,457,000 after acquiring an additional 985,442 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its position in Brookfield Renewable by 128.4% in the fourth quarter. Gotham Asset Management LLC now owns 1,287,302 shares of the company’s stock valued at $49,355,000 after acquiring an additional 723,692 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on BEPC. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Friday. JPMorgan Chase & Co. reduced their target price on Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday. Barclays upped their target price on Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded Brookfield Renewable from a “sell” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $39.00.

Brookfield Renewable Stock Up 2.6%

Shares of BEPC stock opened at $34.22 on Tuesday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.81. The business’s 50 day moving average is $36.28 and its two-hundred day moving average is $38.93. Brookfield Renewable Corporation has a twelve month low of $31.82 and a twelve month high of $45.18.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, August 31st.

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.