New South Capital Management Inc. cut its holdings in Brookfield Renewable Corporation (NYSE:BEPC – Free Report) by 36.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,709 shares of the company’s stock after selling 203,185 shares during the period. New South Capital Management Inc. owned approximately 0.24% of Brookfield Renewable worth $9,841,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. Syon Capital LLC increased its holdings in shares of Brookfield Renewable by 3.2% during the 2nd quarter. Syon Capital LLC now owns 9,634 shares of the company’s stock valued at $358,000 after acquiring an additional 303 shares during the last quarter. Corient Private Wealth LP boosted its position in Brookfield Renewable by 2.2% during the second quarter. Corient Private Wealth LP now owns 13,814 shares of the company’s stock worth $513,000 after purchasing an additional 303 shares during the period. Cardinal Point Capital Management ULC grew its holdings in Brookfield Renewable by 6.7% during the third quarter. Cardinal Point Capital Management ULC now owns 7,518 shares of the company’s stock valued at $213,000 after purchasing an additional 475 shares during the last quarter. Diversify Advisory Services LLC raised its position in shares of Brookfield Renewable by 1.1% in the third quarter. Diversify Advisory Services LLC now owns 42,466 shares of the company’s stock valued at $1,229,000 after purchasing an additional 481 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of Brookfield Renewable by 6.5% in the third quarter. Commonwealth Equity Services LLC now owns 8,227 shares of the company’s stock valued at $232,000 after purchasing an additional 502 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently issued reports on BEPC. JPMorgan Chase & Co. lowered their target price on shares of Brookfield Renewable from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Thursday, October 29th. Morgan Stanley decreased their price target on shares of Brookfield Renewable from $42.00 to $37.00 and set an “underweight” rating for the company in a report on Tuesday, October 13th. Wall Street Zen raised Brookfield Renewable from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, Barclays lifted their price objective on Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $36.00.
View Our Latest Stock Analysis on BEPC
Brookfield Renewable Price Performance
BEPC opened at $31.29 on Thursday. Brookfield Renewable Corporation has a 1-year low of $27.57 and a 1-year high of $45.18. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.41 and a quick ratio of 0.41. The business has a 50 day moving average of $29.77 and a 200-day moving average of $36.06.
Brookfield Renewable Company Profile
Brookfield Renewable Corporation (NYSE: BEPC) is a publicly traded company that provides investors with corporate securities representing an economic interest in the Brookfield Renewable Partners platform. Brookfield Renewable develops, owns and operates renewable power and sustainable energy businesses. The platform’s activities include generating electricity from hydroelectric, wind and solar facilities, as well as providing energy storage and other decarbonization solutions. Its portfolio spans North America, South America, Europe and Asia-Pacific.
Recommended Stories
- Five stocks we like better than Brookfield Renewable
- Keeping AI Cool: AAON Rides the AI Heatwave to Record Growth
- AST SpaceMobile Has a New Rocket Plan, But Its Cash-Burn Problem Isn’t Going Away
- Powering Up the Moon: Redwire’s $40 Million NASA Award
- Can Constellation Energy’s Contracts Power a Stock Rebound?
Want to see what other hedge funds are holding BEPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Renewable Corporation (NYSE:BEPC – Free Report).
Receive News & Ratings for Brookfield Renewable Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Renewable and related companies with MarketBeat.com's FREE daily email newsletter.
