SG Americas Securities LLC Sells 115,127 Shares of Brookfield Renewable Corporation $BEPC

SG Americas Securities LLC decreased its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 80.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,399 shares of the company’s stock after selling 115,127 shares during the quarter. SG Americas Securities LLC’s holdings in Brookfield Renewable were worth $1,131,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Corient Private Wealth LLC boosted its stake in shares of Brookfield Renewable by 7.5% in the 4th quarter. Corient Private Wealth LLC now owns 12,478 shares of the company’s stock valued at $470,000 after purchasing an additional 872 shares in the last quarter. SHP Wealth Management acquired a new position in Brookfield Renewable during the 4th quarter worth approximately $30,000. Invesco Ltd. lifted its stake in Brookfield Renewable by 22.9% in the 4th quarter. Invesco Ltd. now owns 500,311 shares of the company’s stock valued at $19,182,000 after purchasing an additional 93,117 shares during the last quarter. Alpine Woods Capital Investors LLC lifted its stake in Brookfield Renewable by 23.4% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 39,624 shares of the company’s stock valued at $1,519,000 after purchasing an additional 7,519 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in Brookfield Renewable by 15.9% in the fourth quarter. XTX Topco Ltd now owns 21,778 shares of the company’s stock valued at $835,000 after buying an additional 2,992 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Wall Street Analysts Forecast Growth

BEPC has been the topic of a number of research reports. Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Morgan Stanley reiterated an “underweight” rating and issued a $42.00 price target (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Weiss Ratings downgraded Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Brookfield Renewable from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Renewable presently has an average rating of “Reduce” and a consensus target price of $42.33.

Brookfield Renewable Stock Performance

Brookfield Renewable stock opened at $36.45 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33. Brookfield Renewable Corporation has a 52-week low of $32.65 and a 52-week high of $45.18. The firm has a 50 day moving average price of $37.74 and a two-hundred day moving average price of $39.60.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were given a dividend of $0.392 per share. The ex-dividend date was Friday, May 29th. This represents a $1.57 annualized dividend and a dividend yield of 4.3%.

Brookfield Renewable Profile

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.