Strs Ohio Sells 46,253 Shares of Brookfield Renewable Corporation $BEPC

Strs Ohio reduced its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 62.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,288 shares of the company’s stock after selling 46,253 shares during the period. Strs Ohio’s holdings in Brookfield Renewable were worth $974,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Brookfield Renewable by 48.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 30,694 shares of the company’s stock worth $1,169,000 after buying an additional 9,955 shares in the last quarter. ASR Vermogensbeheer N.V. raised its stake in Brookfield Renewable by 6.8% during the third quarter. ASR Vermogensbeheer N.V. now owns 912,198 shares of the company’s stock worth $31,389,000 after acquiring an additional 57,711 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Brookfield Renewable in the third quarter worth about $1,286,000. TD Private Client Wealth LLC boosted its stake in shares of Brookfield Renewable by 25.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 11,727 shares of the company’s stock valued at $404,000 after purchasing an additional 2,387 shares in the last quarter. Finally, Rempart Asset Management Inc. grew its holdings in shares of Brookfield Renewable by 3.9% during the 3rd quarter. Rempart Asset Management Inc. now owns 356,400 shares of the company’s stock valued at $12,277,000 after purchasing an additional 13,410 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BEPC. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Barclays increased their price target on Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. boosted their price objective on Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Morgan Stanley increased their target price on Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Three 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 stock. Based on data from MarketBeat, Brookfield Renewable currently has an average rating of “Hold” and an average target price of $40.00.

Brookfield Renewable Stock Performance

NYSE BEPC opened at $40.64 on Thursday. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of -45.66 and a beta of 1.23. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $45.10. The stock has a fifty day simple moving average of $39.40 and a 200 day simple moving average of $37.76. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.21.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were paid a $0.373 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.49 annualized dividend and a dividend yield of 3.7%. Brookfield Renewable’s dividend payout ratio is presently -167.42%.

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.