Brookfield Renewable Corporation $BEPC Position Trimmed by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. decreased its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 362,218 shares of the company’s stock after selling 30,594 shares during the period. Brookfield Renewable comprises 1.0% of Washington Trust Advisors Inc.’s portfolio, making the stock its 26th largest holding. Washington Trust Advisors Inc. owned about 0.24% of Brookfield Renewable worth $13,446,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Clearbridge Investments LLC grew its holdings in Brookfield Renewable by 103.3% during the fourth quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company’s stock valued at $353,183,000 after purchasing an additional 4,681,203 shares during the last quarter. Norges Bank acquired a new stake in shares of Brookfield Renewable in the fourth quarter worth $68,132,000. Canada Pension Plan Investment Board lifted its stake in shares of Brookfield Renewable by 49.6% in the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock worth $97,457,000 after buying an additional 985,442 shares during the last quarter. Gotham Asset Management LLC boosted its holdings in shares of Brookfield Renewable by 128.4% during the 4th quarter. Gotham Asset Management LLC now owns 1,287,302 shares of the company’s stock worth $49,355,000 after buying an additional 723,692 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of Brookfield Renewable during the 3rd quarter worth $20,811,000. 75.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Barclays upped their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $39.00.

Brookfield Renewable Stock Up 0.1%

NYSE:BEPC opened at $31.78 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10. Brookfield Renewable Corporation has a one year low of $30.91 and a one year high of $45.18. The company has a fifty day moving average price of $34.03 and a 200 day moving average price of $37.66.

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.392 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.9%.

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.