Steinberg Asset Management LLC Acquires 29,922 Shares of Brookfield Renewable Corporation $BEPC

Steinberg Asset Management LLC increased its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 29.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,234 shares of the company’s stock after acquiring an additional 29,922 shares during the quarter. Brookfield Renewable comprises 2.4% of Steinberg Asset Management LLC’s investment portfolio, making the stock its 6th biggest position. Steinberg Asset Management LLC owned about 0.09% of Brookfield Renewable worth $3,703,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Syon Capital LLC lifted its stake in Brookfield Renewable by 3.2% in the 2nd quarter. Syon Capital LLC now owns 9,634 shares of the company’s stock worth $358,000 after purchasing an additional 303 shares in the last quarter. Corient Private Wealth LP boosted its holdings in shares of Brookfield Renewable by 2.2% during the 2nd 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 last quarter. Cardinal Point Capital Management ULC boosted its holdings in shares of Brookfield Renewable by 6.7% during the 3rd quarter. Cardinal Point Capital Management ULC now owns 7,518 shares of the company’s stock worth $213,000 after purchasing an additional 475 shares during the last quarter. Diversify Advisory Services LLC grew 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 in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Brookfield Renewable by 5.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,293 shares of the company’s stock valued at $345,000 after purchasing an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Down 0.2%

NYSE:BEPC opened at $29.10 on Monday. The company’s 50-day moving average is $30.01 and its two-hundred day moving average is $36.38. Brookfield Renewable Corporation has a 1-year low of $27.57 and a 1-year high of $45.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays increased their price target on 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 lowered Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. JPMorgan Chase & Co. dropped their target price on Brookfield Renewable from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Morgan Stanley cut their target price on Brookfield Renewable from $42.00 to $37.00 and set an “underweight” rating for the company in a research note on Tuesday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Thursday. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $36.00.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation (NYSE: BEPC) is a renewable power and sustainable solutions company that provides investors with an interest in the Brookfield Renewable platform. The company owns and operates a diversified portfolio of renewable energy assets and is part of Brookfield Asset Management’s global renewable power business.

Its activities include the development, ownership and operation of hydroelectric, wind, solar and distributed energy facilities, as well as energy storage and other renewable power infrastructure.