Brookfield Renewable Corporation $BEPC Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 2.4% in the second quarter, Holdings Channel reports. The institutional investor owned 256,879 shares of the company’s stock after selling 6,244 shares during the quarter. DAVENPORT & Co LLC’s holdings in Brookfield Renewable were worth $8,403,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Abundance Wealth Counselors increased its holdings in shares of Brookfield Renewable by 2.6% during the 2nd quarter. Abundance Wealth Counselors now owns 58,229 shares of the company’s stock worth $1,909,000 after buying an additional 1,463 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Brookfield Renewable by 2.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 80,179 shares of the company’s stock valued at $2,628,000 after purchasing an additional 1,620 shares during the last quarter. SOA Wealth Advisors LLC. increased its holdings in Brookfield Renewable by 8.8% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 8,709 shares of the company’s stock valued at $285,000 after purchasing an additional 701 shares during the last quarter. Ninety One UK Ltd acquired a new stake in Brookfield Renewable in the 2nd quarter valued at approximately $15,116,000. Finally, PFG Investments LLC increased its holdings in Brookfield Renewable by 0.6% in the 2nd quarter. PFG Investments LLC now owns 210,398 shares of the company’s stock valued at $6,897,000 after purchasing an additional 1,278 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

Shares of BEPC stock opened at $38.12 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. Brookfield Renewable Corporation has a 52 week low of $23.73 and a 52 week high of $38.63. The stock has a market capitalization of $5.52 billion, a PE ratio of -42.83 and a beta of 1.21. The firm has a 50 day moving average of $34.26 and a two-hundred day moving average of $31.70.

Brookfield Renewable Announces Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on BEPC. Morgan Stanley lifted their target price on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their target price on shares of Brookfield Renewable from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Renewable in a report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.75.

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.