ClearBridge Investments Increases Stake in Brookfield Renewable Co.

ClearBridge Investments Ltd has increased its ownership in Brookfield Renewable Co. (NYSE:BEPC) by 31.1% during the fourth quarter, as reported in its latest 13F filing with the Securities and Exchange Commission. After acquiring an additional 686,319 shares during this period, the fund now holds 2,894,836 shares of the company, which represents 2.1% of their total investment portfolio, making it the fund's 20th largest position. As of the most recent SEC filing, ClearBridge Investments Ltd's stake in Brookfield Renewable is valued at about $80,071,000.

A number of other investment funds have also adjusted their holdings in Brookfield Renewable. Vanguard Group Inc. raised its position in Brookfield Renewable by 2.0% during the same quarter, bringing its ownership to 5,581,621 shares, worth approximately $154,464,000 after adding 106,880 shares to its holdings. Furthermore, Parnassus Investments LLC significantly increased its shares by 46.6%, now possessing 3,910,496 shares valued at about $108,164,000 after acquiring 1,242,858 shares in the last quarter.

Robeco Schweiz AG made a new investment in Brookfield Renewable during the fourth quarter, valued at around $55,680,000, while Norges Bank also purchased new shares valued at approximately $47,478,000. Additionally, Geode Capital Management LLC boosted its stake by 2.1% in the preceding quarter, owning 1,249,866 shares now worth $40,633,000 after increasing its position by 25,558 shares. Overall, institutional investors, including hedge funds, currently own 75.12% of Brookfield Renewable's stock.

Analyst Ratings Updates

Recent analysis of Brookfield Renewable has resulted in several changes to its ratings. Wells Fargo & Company reduced its target price from $35.00 to $33.00, maintaining an "overweight" rating. Similarly, JPMorgan Chase & Co. lowered its target price from $34.00 to $32.00 while also assigning an