Brookfield Renewable (NYSE:BEPC) Trading Up 6.2% – Time to Buy?

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

Analyst Upgrades and Downgrades

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

Brookfield Renewable Trading Up 6.7%

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

Brookfield Renewable Announces Dividend

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

Institutional Trading of Brookfield Renewable

A number of institutional investors and hedge funds have recently modified their holdings of the business. Torren Management LLC purchased a new stake in shares of Brookfield Renewable during the 4th quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Brookfield Renewable during the fourth quarter worth about $27,000. Princeton Global Asset Management LLC increased its holdings in Brookfield Renewable by 102.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock worth $31,000 after buying an additional 405 shares during the last quarter. Curio Wealth LLC raised its position in Brookfield Renewable by 95,300.0% in the second quarter. Curio Wealth LLC now owns 954 shares of the company’s stock worth $31,000 after acquiring an additional 953 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Brookfield Renewable by 191.5% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $35,000 after acquiring an additional 655 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

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.