Brookfield Renewable (NYSE:BEPC) Hits New 12-Month High – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Brookfield Renewable Stock Performance

The company has a fifty day moving average of $40.03 and a two-hundred day moving average of $38.47. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 0.13. The company has a market cap of $6.15 billion, a price-to-earnings ratio of -47.70 and a beta of 1.22.

Brookfield Renewable Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a dividend yield of 3.7%. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 27th. Brookfield Renewable’s dividend payout ratio (DPR) is presently -167.42%.

Institutional Investors Weigh In On Brookfield Renewable

Several hedge funds have recently added to or reduced their stakes in the business. Swiss Life Asset Management Ltd increased its position in Brookfield Renewable by 1.5% in the 4th quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company’s stock valued at $656,000 after acquiring an additional 246 shares during the period. Syon Capital LLC grew its stake in shares of Brookfield Renewable by 2.7% in the fourth quarter. Syon Capital LLC now owns 9,351 shares of the company’s stock worth $359,000 after purchasing an additional 247 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Brookfield Renewable by 1.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company’s stock valued at $721,000 after purchasing an additional 284 shares during the period. Curio Wealth LLC increased its holdings in Brookfield Renewable by 30.4% in the fourth quarter. Curio Wealth LLC now owns 1,244 shares of the company’s stock valued at $49,000 after purchasing an additional 290 shares during the period. Finally, Diversify Advisory Services LLC raised its position in Brookfield Renewable by 0.9% during the 4th quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock worth $1,429,000 after purchasing an additional 310 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

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.