Brookfield Renewable (NYSE:BEPC) Sets New 52-Week High on Analyst Upgrade

Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report) shares reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $34.00 to $38.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Brookfield Renewable traded as high as $36.55 and last traded at $36.04, with a volume of 749417 shares. The stock had previously closed at $36.35.

A number of other equities research analysts have also issued reports on BEPC. Wells Fargo & Company reduced their price target on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Barclays assumed coverage on Brookfield Renewable in a research note on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 price target on the stock.

Institutional Trading of Brookfield Renewable

Hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its position in shares of Brookfield Renewable by 164.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 80,547 shares of the company's stock valued at $2,228,000 after acquiring an additional 50,082 shares during the period. Natixis Advisors LLC lifted its position in shares of Brookfield Renewable by 2.2% during the 4th quarter. Natixis Advisors LLC now owns 42,547 shares of the company's stock valued at $1,177,000 after acquiring an additional 925 shares during the period. American Century Companies Inc. acquired a new stake in shares of Brookfield Renewable during the 4th quarter valued at approximately $4,642,000. LPL Financial LLC lifted its position in shares of Brookfield Renewable by 2.8% during the 4th quarter. LPL Financial LLC now owns 33,404 shares of the company's stock valued at $924,000 after acquiring an additional 902 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Brookfield Renewable by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company's stock worth $154,464,000 after acquiring an additional 106,880 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Stock Performance

The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -41.02 and a beta of 1.16. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.03. The stock has a fifty day moving average price of $31.87 and a two-hundred day moving average price of $28.94.

Brookfield Renewable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Friday, May 30th. Brookfield Renewable's dividend payout ratio (DPR) is presently -167.42%.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.