Brookfield Renewable (NYSE:BEPC) Hits New 1-Year High – Time to Buy?

Brookfield Renewable Corporation (NYSE:BEPC) shares reached a new 52-week high on Tuesday . The stock traded as high as $45.18 and last traded at $44.9550, with a volume of 679231 shares trading hands. The stock had previously closed at $43.84.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Morgan Stanley boosted their price objective on Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Finally, Barclays lifted their price target on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $40.00.

Brookfield Renewable Price Performance

The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.39. The company’s 50 day moving average price is $39.79 and its 200 day moving average price is $38.34. The firm has a market capitalization of $6.43 billion, a P/E ratio of -49.89 and a beta of 1.22.

Brookfield Renewable Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a dividend of $0.392 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 annualized dividend and a yield of 3.5%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

Institutional Investors Weigh In On Brookfield Renewable

Institutional investors and hedge funds have recently modified their holdings of the business. Jain Global LLC bought a new position in Brookfield Renewable in the fourth quarter valued at approximately $875,000. Guardian Partners Inc. boosted its position in shares of Brookfield Renewable by 10.5% in the 4th quarter. Guardian Partners Inc. now owns 20,895 shares of the company’s stock worth $868,000 after purchasing an additional 1,989 shares during the last quarter. Laird Norton Wetherby Trust Company LLC bought a new stake in Brookfield Renewable in the fourth quarter valued at about $377,000. Amundi lifted its stake in Brookfield Renewable by 20.6% in the fourth quarter. Amundi now owns 594,971 shares of the company’s stock valued at $22,811,000 after buying an additional 101,820 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Brookfield Renewable by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 108,010 shares of the company’s stock worth $4,142,000 after buying an additional 8,092 shares during the last quarter. 75.12% of the stock is owned by institutional investors.

Brookfield Renewable Company Profile

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.