Employees Retirement System of Texas Sells 57,823 Shares of Brookfield Renewable Corporation $BEPC

Employees Retirement System of Texas lessened its holdings in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 96.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,126 shares of the company’s stock after selling 57,823 shares during the period. Employees Retirement System of Texas’ holdings in Brookfield Renewable were worth $82,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Swiss Life Asset Management Ltd boosted its holdings in shares of Brookfield Renewable by 1.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company’s stock valued at $656,000 after buying an additional 246 shares in the last quarter. Diversify Advisory Services LLC boosted its holdings 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 buying an additional 310 shares in the last quarter. Modern Wealth Management LLC boosted its holdings in shares of Brookfield Renewable by 2.3% during the 2nd quarter. Modern Wealth Management LLC now owns 14,856 shares of the company’s stock valued at $487,000 after buying an additional 327 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Brookfield Renewable by 0.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 63,088 shares of the company’s stock valued at $2,068,000 after buying an additional 368 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Brookfield Renewable by 2.7% during the 3rd quarter. Sei Investments Co. now owns 14,309 shares of the company’s stock valued at $493,000 after buying an additional 375 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BEPC shares. Morgan Stanley restated an “underweight” rating and set a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a report on Monday, March 23rd. Weiss Ratings cut shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Renewable presently has an average rating of “Reduce” and an average price target of $42.33.

Brookfield Renewable Trading Up 1.8%

Shares of Brookfield Renewable stock opened at $39.88 on Friday. The firm’s 50-day moving average is $39.41 and its 200 day moving average is $40.20. Brookfield Renewable Corporation has a 1 year low of $28.76 and a 1 year high of $45.18. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.81.

Brookfield Renewable Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a $0.392 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 3.9%.

About Brookfield Renewable

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.