Shell Asset Management Co. Has $5.52 Million Stock Position in Brookfield Renewable Corporation $BEPC

Shell Asset Management Co. trimmed its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 3.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,616 shares of the company’s stock after selling 6,098 shares during the quarter. Shell Asset Management Co.’s holdings in Brookfield Renewable were worth $5,515,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Brookfield Renewable by 15.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company’s stock valued at $863,000 after buying an additional 4,190 shares during the period. Bank of New York Mellon Corp lifted its stake in Brookfield Renewable by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 484,723 shares of the company’s stock worth $13,533,000 after purchasing an additional 7,415 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Brookfield Renewable by 23.2% during the first quarter. Raymond James Financial Inc. now owns 163,852 shares of the company’s stock worth $4,575,000 after purchasing an additional 30,840 shares during the last quarter. LPL Financial LLC lifted its stake in Brookfield Renewable by 91.9% during the first quarter. LPL Financial LLC now owns 64,108 shares of the company’s stock worth $1,790,000 after purchasing an additional 30,704 shares during the last quarter. Finally, Foresight Group Ltd Liability Partnership bought a new stake in Brookfield Renewable during the first quarter worth about $6,338,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price target on Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. boosted their target price on Brookfield Renewable from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Brookfield Renewable in a research note on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.75.

Brookfield Renewable Stock Performance

Brookfield Renewable stock opened at $38.04 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $5.51 billion, a P/E ratio of -42.74 and a beta of 1.21. The stock’s 50 day moving average is $34.23 and its 200 day moving average is $31.66. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $38.15.

Brookfield Renewable Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 29th were given a $0.373 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.49 annualized dividend and a yield of 3.9%. Brookfield Renewable’s dividend payout ratio is -167.42%.

Brookfield Renewable Company Profile

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.