Shell Asset Management Co. Sells 39,708 Shares of Brookfield Renewable Co. (NYSE:BEPC)

Shell Asset Management Co. lessened its position in Brookfield Renewable Co. (NYSE:BEPC) by 17.9% in the fourth quarter, HoldingsChannel reports. The firm owned 182,223 shares of the company’s stock after selling 39,708 shares during the quarter. Shell Asset Management Co.’s holdings in Brookfield Renewable were worth $5,040,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Curio Wealth LLC bought a new position in Brookfield Renewable in the fourth quarter worth $26,000. Atala Financial Inc purchased a new stake in shares of Brookfield Renewable in the 4th quarter worth about $27,000. Dunhill Financial LLC bought a new position in shares of Brookfield Renewable in the 4th quarter worth about $41,000. Measured Risk Portfolios Inc. bought a new position in shares of Brookfield Renewable in the 4th quarter worth about $52,000. Finally, Quadrant Capital Group LLC lifted its position in Brookfield Renewable by 152.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,013 shares of the company’s stock valued at $56,000 after acquiring an additional 1,217 shares during the period. 75.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BEPC shares. Barclays started coverage on shares of Brookfield Renewable in a report on Wednesday, April 2nd. They issued an “equal weight” rating and a $31.00 price objective on the stock. Wells Fargo & Company cut their price target on Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. dropped their target price on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd.

Brookfield Renewable Stock Up 1.5%

NYSE:BEPC opened at $29.75 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.27. The firm has a market cap of $4.31 billion, a P/E ratio of -33.43 and a beta of 1.15. Brookfield Renewable Co. has a fifty-two week low of $23.73 and a fifty-two week high of $35.14. The firm has a 50-day simple moving average of $27.86 and a two-hundred day simple moving average of $28.31.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -167.42%.

Brookfield Renewable Company Profile

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.