29,922 Brookfield Renewable Corporation $BEPC Shares Bought by Steinberg Asset Management LLC

Steinberg Asset Management LLC increased its position in shares of Brookfield Renewable Corporation (NYSE:BEPC) by 29.5% in the third quarter, HoldingsChannel.com reports. The firm 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 holdings, making the stock its 6th largest position. Steinberg Asset Management LLC’s holdings in Brookfield Renewable were worth $3,703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BEPC. Choreo LLC acquired a new stake in Brookfield Renewable in the third quarter valued at $369,000. Corrado Advisors LLC boosted its position in shares of Brookfield Renewable by 5.2% during the 3rd quarter. Corrado Advisors LLC now owns 50,037 shares of the company’s stock worth $1,412,000 after acquiring an additional 2,451 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Brookfield Renewable by 15.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 175,385 shares of the company’s stock worth $4,949,000 after acquiring an additional 23,667 shares in the last quarter. Signaturefd LLC boosted its position in shares of Brookfield Renewable by 41.4% during the 3rd quarter. Signaturefd LLC now owns 4,441 shares of the company’s stock worth $125,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Cardinal Point Capital Management ULC increased its holdings in shares of Brookfield Renewable by 6.7% in the 3rd quarter. Cardinal Point Capital Management ULC now owns 7,518 shares of the company’s stock valued at $213,000 after acquiring an additional 475 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays raised their target price on Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a report on Thursday. JPMorgan Chase & Co. dropped their price target on shares of Brookfield Renewable from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Morgan Stanley cut their price objective on shares of Brookfield Renewable from $42.00 to $37.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. Finally, Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Sunday, August 9th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $36.00.

Brookfield Renewable Stock Performance

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

About Brookfield Renewable

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.