Principal Financial Group Inc. Has $137.58 Million Stake in Brookfield Renewable Co. (NYSE:BEPC)

Principal Financial Group Inc. decreased its position in Brookfield Renewable Co. (NYSE:BEPC) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,212,582 shares of the company’s stock after selling 545,395 shares during the quarter. Principal Financial Group Inc.’s holdings in Brookfield Renewable were worth $137,583,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. increased its position in Brookfield Renewable by 15.0% during the third quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company’s stock worth $9,733,000 after buying an additional 38,853 shares during the last quarter. Intact Investment Management Inc. acquired a new position in shares of Brookfield Renewable during the 3rd quarter valued at about $1,369,000. US Bancorp DE raised its stake in shares of Brookfield Renewable by 99.4% in the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company’s stock valued at $99,000 after acquiring an additional 1,516 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in Brookfield Renewable in the 3rd quarter worth approximately $233,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Brookfield Renewable by 80.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 149,550 shares of the company’s stock worth $4,884,000 after purchasing an additional 66,623 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Trading Up 1.0 %

Brookfield Renewable stock opened at $31.32 on Friday. The business’s 50-day simple moving average is $30.95 and its 200-day simple moving average is $29.74. Brookfield Renewable Co. has a 52 week low of $21.35 and a 52 week high of $35.14. The firm has a market capitalization of $5.63 billion, a PE ratio of -48.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.40.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th.

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.