Brookfield Renewable (NYSE:BEPC) Sets New 1-Year Low – Here’s Why

Brookfield Renewable Corporation (NYSE:BEPC) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $30.91 and last traded at $30.9180, with a volume of 1998478 shares trading hands. The stock had previously closed at $31.59.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BEPC shares. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Sunday, August 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Friday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Finally, Barclays upped 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. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $39.00.

Brookfield Renewable Price Performance

The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.40. The business has a 50-day moving average price of $33.72 and a 200 day moving average price of $37.42.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, August 31st.

Hedge Funds Weigh In On Brookfield Renewable

A number of institutional investors have recently bought and sold shares of BEPC. Motiv8 Investments LLC acquired a new stake in Brookfield Renewable during the 4th quarter worth about $25,000. Allied Private Wealth LLC acquired a new stake in shares of Brookfield Renewable during the second quarter valued at approximately $27,000. SHP Wealth Management purchased a new stake in shares of Brookfield Renewable in the 4th quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Brookfield Renewable in the 2nd quarter worth approximately $33,000. Finally, NewEdge Advisors LLC purchased a new position in Brookfield Renewable during the 1st quarter worth approximately $33,000. 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.