Hsbc Holdings PLC Sells 20,363 Shares of Brookfield Renewable Corporation $BEPC

Hsbc Holdings PLC trimmed its position in Brookfield Renewable Corporation (NYSE:BEPC) by 56.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,782 shares of the company’s stock after selling 20,363 shares during the quarter. Hsbc Holdings PLC’s holdings in Brookfield Renewable were worth $627,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BEPC. Swiss Life Asset Management Ltd increased its holdings in Brookfield Renewable by 1.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company’s stock worth $656,000 after acquiring an additional 246 shares during the period. Syon Capital LLC boosted its holdings in Brookfield Renewable by 2.7% in the 4th quarter. Syon Capital LLC now owns 9,351 shares of the company’s stock valued at $359,000 after purchasing an additional 247 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Brookfield Renewable by 1.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company’s stock valued at $721,000 after purchasing an additional 284 shares in the last quarter. Curio Wealth LLC grew its position in shares of Brookfield Renewable by 30.4% during the 4th quarter. Curio Wealth LLC now owns 1,244 shares of the company’s stock valued at $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in shares of Brookfield Renewable by 0.9% in the fourth quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock worth $1,429,000 after purchasing an additional 310 shares during the period. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Trading Up 3.1%

Brookfield Renewable stock opened at $33.11 on Friday. The firm’s fifty day moving average price is $36.43 and its 200-day moving average price is $39.00. 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 fifty-two week low of $31.82 and a fifty-two week high of $45.18.

Analyst Ratings Changes

BEPC has been the topic of a number of recent analyst reports. Weiss Ratings downgraded Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Barclays boosted their target price on Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $38.00 target price on shares of Brookfield Renewable in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $39.67.

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.