Brookfield Renewable (NYSE:BEPC) Trading 6.2% Higher – What’s Next?

Brookfield Renewable Corporation (NYSE:BEPC)’s share price shot up 6.2% during trading on Friday . The stock traded as high as $42.21 and last traded at $41.7540. 664,969 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 905,860 shares. The stock had previously closed at $39.32.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BEPC. JPMorgan Chase & Co. raised their target price on Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Morgan Stanley lifted their price objective on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Finally, Barclays boosted their price target on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable has an average rating of “Hold” and an average target price of $40.00.

Brookfield Renewable Trading Up 6.7%

The firm’s 50 day moving average is $39.35 and its 200 day moving average is $37.77. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market cap of $6.08 billion, a PE ratio of -47.43 and a beta of 1.23.

Brookfield Renewable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were issued a $0.373 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.49 annualized dividend and a dividend yield of 3.6%. Brookfield Renewable’s dividend payout ratio is presently -167.42%.

Institutional Trading of Brookfield Renewable

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in shares of Brookfield Renewable during the 1st quarter valued at about $756,000. Integrated Wealth Concepts LLC purchased a new position in Brookfield Renewable in the 1st quarter worth approximately $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Brookfield Renewable by 115.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,963 shares of the company’s stock worth $1,813,000 after buying an additional 34,799 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Brookfield Renewable by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company’s stock valued at $17,995,000 after buying an additional 158,771 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Brookfield Renewable by 2.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,020 shares of the company’s stock valued at $6,310,000 after buying an additional 4,768 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

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.