Brookfield Renewable Corporation $BEPC Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 217,785 shares of the company’s stock after selling 21,768 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Brookfield Renewable were worth $8,350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BEPC. CIBC Bancorp USA Inc. acquired a new stake in Brookfield Renewable during the third quarter valued at approximately $98,293,000. UBS Group AG lifted its stake in Brookfield Renewable by 225.2% during the fourth quarter. UBS Group AG now owns 1,802,162 shares of the company’s stock valued at $69,095,000 after purchasing an additional 1,247,953 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Brookfield Renewable by 49.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock valued at $97,457,000 after purchasing an additional 985,442 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Brookfield Renewable during the third quarter valued at approximately $20,811,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Brookfield Renewable by 29.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,910,810 shares of the company’s stock valued at $65,768,000 after purchasing an additional 437,006 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BEPC has been the subject of several research analyst reports. Barclays upped their price target on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. raised their target price on shares of Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Brookfield Renewable currently has an average rating of “Hold” and an average target price of $39.75.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $35.16 on Friday. The company has a 50-day moving average of $40.96 and a 200-day moving average of $40.75. Brookfield Renewable Corporation has a 52 week low of $27.27 and a 52 week high of $45.18. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.35.

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.