Parnassus Investments LLC Sells 304,681 Shares of Brookfield Renewable Corporation $BEPC

Parnassus Investments LLC lessened its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,032,949 shares of the company’s stock after selling 304,681 shares during the period. Parnassus Investments LLC owned 3.47% of Brookfield Renewable worth $192,963,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Torren Management LLC bought a new position in Brookfield Renewable during the fourth quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Brookfield Renewable in the fourth quarter valued at $27,000. Princeton Global Asset Management LLC increased its stake in Brookfield Renewable by 102.5% in the fourth 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. Smartleaf Asset Management LLC raised its holdings in shares of Brookfield Renewable by 191.5% during the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after purchasing an additional 655 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Brookfield Renewable by 88.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after purchasing an additional 543 shares during the period. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

Shares of NYSE BEPC opened at $37.73 on Friday. The company has a 50-day moving average price of $39.25 and a 200-day moving average price of $39.95. Brookfield Renewable Corporation has a 1 year low of $31.19 and a 1 year high of $45.18. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.81.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 annualized dividend and a yield of 4.2%.

Analyst Ratings Changes

BEPC has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Morgan Stanley reiterated an “underweight” rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a report on Monday, March 23rd. Weiss Ratings lowered shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $42.33.

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.