First Manhattan CO. LLC. Trims Position in Brookfield Renewable Co. (NYSE:BEPC)

First Manhattan CO. LLC. decreased its holdings in Brookfield Renewable Co. (NYSE:BEPC) by 17.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 89,773 shares of the company’s stock after selling 19,045 shares during the period. First Manhattan CO. LLC.’s holdings in Brookfield Renewable were worth $2,483,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BEPC. Barclays PLC grew its holdings in shares of Brookfield Renewable by 3.5% during the 3rd quarter. Barclays PLC now owns 173,871 shares of the company’s stock worth $5,678,000 after acquiring an additional 5,857 shares during the period. Tidal Investments LLC purchased a new stake in Brookfield Renewable in the third quarter worth $747,000. Franklin Resources Inc. raised its holdings in Brookfield Renewable by 33.9% in the third quarter. Franklin Resources Inc. now owns 151,514 shares of the company’s stock worth $4,607,000 after purchasing an additional 38,350 shares in the last quarter. Green Alpha Advisors LLC lifted its position in Brookfield Renewable by 55.8% during the fourth quarter. Green Alpha Advisors LLC now owns 138,976 shares of the company’s stock valued at $3,844,000 after buying an additional 49,748 shares during the period. Finally, Pacifica Partners Inc. boosted its holdings in shares of Brookfield Renewable by 6.5% during the 4th quarter. Pacifica Partners Inc. now owns 62,498 shares of the company’s stock valued at $1,738,000 after buying an additional 3,800 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BEPC. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Barclays assumed coverage on shares of Brookfield Renewable in a research note on Wednesday, April 2nd. They set an “equal weight” rating and a $31.00 target price for the company. Finally, Wells Fargo & Company cut their price target on Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th.

Brookfield Renewable Stock Performance

Shares of Brookfield Renewable stock opened at $28.92 on Friday. Brookfield Renewable Co. has a 1 year low of $23.73 and a 1 year high of $35.14. The firm’s 50-day moving average is $27.72 and its 200 day moving average is $28.38. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -32.49 and a beta of 1.15. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.27 and a quick ratio of 0.51.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable’s payout ratio is -167.42%.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.