Corrado Advisors LLC Sells 1,435 Shares of Brookfield Renewable Corporation $BEPC

Corrado Advisors LLC reduced its stake in Brookfield Renewable Corporation (NYSE:BEPC) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,704 shares of the company’s stock after selling 1,435 shares during the period. Corrado Advisors LLC’s holdings in Brookfield Renewable were worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MAI Capital Management raised its position in Brookfield Renewable by 59.0% during the first quarter. MAI Capital Management now owns 951 shares of the company’s stock valued at $27,000 after purchasing an additional 353 shares in the last quarter. Curio Wealth LLC raised its position in Brookfield Renewable by 95,300.0% during the second quarter. Curio Wealth LLC now owns 954 shares of the company’s stock valued at $31,000 after purchasing an additional 953 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new position in Brookfield Renewable during the first quarter valued at approximately $28,000. Monetary Management Group Inc. acquired a new position in Brookfield Renewable during the first quarter valued at approximately $28,000. Finally, SVB Wealth LLC acquired a new position in Brookfield Renewable during the first quarter valued at approximately $52,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BEPC has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “sell (d)” rating on shares of Brookfield Renewable in a research report on Wednesday, October 8th. Barclays boosted their price objective on shares of Brookfield Renewable from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley boosted their price objective on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Brookfield Renewable has an average rating of “Hold” and a consensus target price of $37.50.

Brookfield Renewable Stock Up 6.2%

Shares of NYSE:BEPC opened at $43.44 on Wednesday. The company has a fifty day moving average of $35.99 and a 200-day moving average of $33.06. The company has a market capitalization of $6.29 billion, a PE ratio of -48.80 and a beta of 1.21. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.27 and a current ratio of 0.27. Brookfield Renewable Corporation has a 52-week low of $23.73 and a 52-week high of $44.71.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were issued a dividend of $0.373 per share. The ex-dividend date was Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 3.4%. Brookfield Renewable’s dividend 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.