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

Brookfield Renewable Corporation (NYSE:BEPC) hit a new 52-week low during trading on Wednesday. The stock traded as low as $27.57 and last traded at $28.0810, with a volume of 1673828 shares trading hands. The stock had previously closed at $27.97.

Analyst Upgrades and Downgrades

BEPC has been the topic of several recent analyst reports. Barclays boosted their price target 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Friday, July 31st. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $39.00.

Brookfield Renewable Trading Up 1.1%

The business has a 50 day moving average of $31.93 and a two-hundred day moving average of $36.01. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.10.

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were issued a $0.3920 dividend. This represents a $1.57 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Monday, August 31st.

Institutional Trading of Brookfield Renewable

Hedge funds have recently modified their holdings of the stock. Curio Wealth LLC boosted its position in shares of 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 acquiring an additional 290 shares during the period. Syon Capital LLC increased its position in Brookfield Renewable by 3.2% during the second quarter. Syon Capital LLC now owns 9,634 shares of the company’s stock worth $358,000 after acquiring an additional 303 shares during the period. Corient Private Wealth LP increased its position in Brookfield Renewable by 2.2% during the second quarter. Corient Private Wealth LP now owns 13,814 shares of the company’s stock worth $513,000 after acquiring an additional 303 shares during the period. Comprehensive Money Management Services LLC raised its stake in Brookfield Renewable by 1.3% in the 1st quarter. Comprehensive Money Management Services LLC now owns 25,675 shares of the company’s stock worth $1,023,000 after purchasing an additional 320 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Brookfield Renewable by 5.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,293 shares of the company’s stock valued at $345,000 after purchasing an additional 506 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation is a renewable power and sustainable solutions company affiliated with Brookfield Asset Management. It develops, owns, and operates a diversified portfolio of renewable energy and sustainable infrastructure assets, supplying electricity and related services to utilities, businesses, and other customers.

The company’s activities include hydroelectric generation, onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy-transition solutions.