Freedom Investment Management Inc. Sells 2,674 Shares of Brookfield Renewable Corporation $BEPC

Freedom Investment Management Inc. lessened its position in Brookfield Renewable Corporation (NYSE:BEPC) by 10.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 23,818 shares of the company’s stock after selling 2,674 shares during the period. Freedom Investment Management Inc.’s holdings in Brookfield Renewable were worth $781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Brookfield Renewable by 2.4% in the first quarter. Vanguard Group Inc. now owns 5,717,397 shares of the company’s stock worth $159,596,000 after buying an additional 135,776 shares in the last quarter. Parnassus Investments LLC lifted its stake in shares of Brookfield Renewable by 24.2% in the first quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company’s stock worth $135,574,000 after buying an additional 945,297 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Brookfield Renewable by 6.0% in the first quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company’s stock worth $123,713,000 after buying an additional 251,310 shares in the last quarter. Robeco Schweiz AG lifted its stake in shares of Brookfield Renewable by 1.7% in the first quarter. Robeco Schweiz AG now owns 2,048,008 shares of the company’s stock worth $57,180,000 after buying an additional 35,008 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of Brookfield Renewable by 4.7% in the first quarter. Baird Financial Group Inc. now owns 2,022,268 shares of the company’s stock worth $56,462,000 after buying an additional 91,367 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BEPC shares. Morgan Stanley upped their target price on shares of Brookfield Renewable from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. upped their target price on shares of Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Barclays upped their target price on shares of Brookfield Renewable from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Brookfield Renewable in a research report on Friday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Renewable has an average rating of “Hold” and an average price target of $37.50.

Brookfield Renewable Stock Up 2.6%

Shares of Brookfield Renewable stock opened at $40.61 on Friday. The company has a market cap of $5.88 billion, a price-to-earnings ratio of -45.63 and a beta of 1.21. The company’s 50 day moving average is $35.64 and its 200 day moving average is $32.74. Brookfield Renewable Corporation has a twelve month low of $23.73 and a twelve month high of $41.73. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19.

Brookfield Renewable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Renewable’s dividend payout ratio 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.