Miller Financial Services LLC Cuts Stock Holdings in Brookfield Renewable Corporation $BEPC

Miller Financial Services LLC cut its stake in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 16.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,585 shares of the company’s stock after selling 2,100 shares during the period. Miller Financial Services LLC’s holdings in Brookfield Renewable were worth $347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC acquired a new stake in Brookfield Renewable during the first quarter worth about $214,000. New York State Common Retirement Fund grew its holdings in shares of Brookfield Renewable by 18.0% during the 1st quarter. New York State Common Retirement Fund now owns 104,971 shares of the company’s stock worth $2,931,000 after purchasing an additional 16,000 shares during the period. CWM LLC increased its position in Brookfield Renewable by 14.6% during the 1st quarter. CWM LLC now owns 4,058 shares of the company’s stock worth $113,000 after purchasing an additional 516 shares in the last quarter. Private Advisor Group LLC grew its stake in Brookfield Renewable by 26.9% during the first quarter. Private Advisor Group LLC now owns 24,451 shares of the company’s stock worth $683,000 after buying an additional 5,186 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of Brookfield Renewable by 42.5% in the first quarter. Allianz Asset Management GmbH now owns 27,467 shares of the company’s stock worth $767,000 after acquiring an additional 8,188 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Trading Down 1.0%

NYSE:BEPC opened at $42.03 on Thursday. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of -47.22 and a beta of 1.29. Brookfield Renewable Corporation has a one year low of $23.73 and a one year high of $45.10. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 0.39. The business’s 50-day simple moving average is $38.97 and its 200 day simple moving average is $34.79.

Brookfield Renewable Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, November 28th. Brookfield Renewable’s dividend payout ratio is -167.42%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BEPC. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Barclays boosted their price objective on Brookfield Renewable from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Thursday, November 13th. JPMorgan Chase & Co. raised their target price on Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Morgan Stanley upped their price target on Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Brookfield Renewable currently has an average rating of “Hold” and an average price target of $37.50.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.