Hsbc Holdings PLC Decreases Holdings in Brookfield Renewable Corporation $BEPC

Hsbc Holdings PLC decreased its position in Brookfield Renewable Corporation (NYSE:BEPC) by 56.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 15,782 shares of the company’s stock after selling 20,363 shares during the quarter. Hsbc Holdings PLC’s holdings in Brookfield Renewable were worth $627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Motiv8 Investments LLC bought a new position in Brookfield Renewable during the fourth quarter valued at approximately $25,000. Torren Management LLC bought a new stake in shares of Brookfield Renewable in the 4th quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Brookfield Renewable in the 4th quarter worth approximately $27,000. SHP Wealth Management bought a new stake in shares of Brookfield Renewable in the 4th quarter worth approximately $30,000. Finally, Princeton Global Asset Management LLC boosted its stake in shares of Brookfield Renewable by 102.5% in the 4th quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock valued at $31,000 after purchasing an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Up 3.1%

BEPC opened at $33.11 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33. The stock’s 50 day simple moving average is $36.43 and its 200 day simple moving average is $39.00. Brookfield Renewable Corporation has a 1 year low of $31.82 and a 1 year high of $45.18.

Wall Street Analyst Weigh In

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

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.