Cibc World Market Inc. Sells 76,373 Shares of Brookfield Renewable Corporation $BEPC

Cibc World Market Inc. decreased its holdings in Brookfield Renewable Corporation (NYSE:BEPC) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 846,677 shares of the company’s stock after selling 76,373 shares during the quarter. Cibc World Market Inc.’s holdings in Brookfield Renewable were worth $32,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Swiss Life Asset Management Ltd raised its position in Brookfield Renewable by 1.5% in the fourth 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. Diversify Advisory Services LLC grew its position in shares of Brookfield Renewable by 0.9% during the 4th quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock valued at $1,429,000 after acquiring an additional 310 shares during the period. Modern Wealth Management LLC increased its stake in shares of Brookfield Renewable by 2.3% in the 2nd quarter. Modern Wealth Management LLC now owns 14,856 shares of the company’s stock worth $487,000 after purchasing an additional 327 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Brookfield Renewable by 0.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 63,088 shares of the company’s stock worth $2,068,000 after purchasing an additional 368 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Brookfield Renewable by 2.7% in the 3rd quarter. Sei Investments Co. now owns 14,309 shares of the company’s stock worth $493,000 after purchasing an additional 375 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Trading Up 0.5%

Shares of Brookfield Renewable stock opened at $38.77 on Friday. Brookfield Renewable Corporation has a fifty-two week low of $29.14 and a fifty-two week high of $45.18. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.81. The company has a fifty day moving average of $39.38 and a 200 day moving average of $40.08.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 annualized dividend and a dividend yield of 4.0%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings lowered Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a report on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield Renewable currently has an average rating of “Reduce” and an average price target of $42.33.

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.