Washington Trust Advisors Inc. Has $13.45 Million Holdings in Brookfield Renewable Corporation $BEPC

Washington Trust Advisors Inc. cut its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 7.8% during the second quarter, HoldingsChannel.com reports. The firm owned 362,218 shares of the company’s stock after selling 30,594 shares during the period. Brookfield Renewable accounts for about 1.0% of Washington Trust Advisors Inc.’s investment portfolio, making the stock its 26th largest holding. Washington Trust Advisors Inc.’s holdings in Brookfield Renewable were worth $13,446,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Motiv8 Investments LLC acquired a new stake in Brookfield Renewable during the fourth quarter worth $25,000. Allied Private Wealth LLC acquired a new position in shares of Brookfield Renewable in the 2nd quarter valued at $27,000. SHP Wealth Management acquired a new position in shares of Brookfield Renewable in the 4th quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Brookfield Renewable during the 2nd quarter worth about $33,000. Finally, NewEdge Advisors LLC bought a new position in shares of Brookfield Renewable during the 1st quarter worth about $33,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Stock Performance

NYSE BEPC opened at $31.78 on Monday. Brookfield Renewable Corporation has a 1-year low of $30.91 and a 1-year high of $45.18. The company has a 50 day moving average of $34.03 and a 200-day moving average of $37.66. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.10.

Brookfield Renewable Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Monday, August 31st.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BEPC shares. Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Barclays lifted their price objective on Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $39.00.

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.