Cannell & Spears LLC Decreases Stock Holdings in Brookfield Renewable Corporation $BEPC

Cannell & Spears LLC lowered its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 68.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,104 shares of the company’s stock after selling 386,075 shares during the quarter. Cannell & Spears LLC’s holdings in Brookfield Renewable were worth $7,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Motiv8 Investments LLC bought a new stake in shares of Brookfield Renewable in the 4th quarter worth about $25,000. Torren Management LLC bought a new position in shares of Brookfield Renewable in the 4th quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Brookfield Renewable in the fourth quarter worth about $27,000. SHP Wealth Management purchased a new position in Brookfield Renewable in the fourth quarter worth about $30,000. Finally, Princeton Global Asset Management LLC increased its stake in Brookfield Renewable by 102.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock worth $31,000 after acquiring an additional 405 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BEPC has been the topic of a number of recent research reports. Weiss Ratings downgraded Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $38.00 target price on shares of Brookfield Renewable in a research report on Tuesday. Barclays increased their price target on Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Brookfield Renewable has a consensus rating of “Reduce” and an average price target of $39.67.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC opened at $33.58 on Friday. Brookfield Renewable Corporation has a 1 year low of $32.10 and a 1 year high of $45.18. The firm has a 50-day simple moving average of $36.77 and a two-hundred day simple moving average of $39.18. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33.

Brookfield Renewable Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th.

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.