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

Key Points

• Brookfield Renewable fell to a new 52-week low of $31.84, trading near $32.54, below its 50-day and 200-day moving averages.
• Analysts maintain a cautious outlook: JPMorgan and Barclays rated the stock “neutral” or “equal weight,” while the consensus rating is “Reduce” with an average price target of $39.67.
• The company continues to offer a quarterly dividend of $0.392, equal to approximately $1.57 annually and a 4.8% yield; institutional investors own 75.12% of the shares.

Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $31.84 and last traded at $32.5410, with a volume of 2548242 shares. The stock had previously closed at $32.60.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $38.00 price target on shares of Brookfield Renewable in a report on Tuesday, July 21st. Weiss Ratings cut shares of Brookfield Renewable from a "sell (d)" rating to a "sell (e+)" rating in a report on Monday, May 4th. Finally, Barclays increased their price objective 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 investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $39.67.

Brookfield Renewable Stock Down 0.2%

The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.81. The company has a fifty day moving average price of $36.62 and a 200 day moving average price of $39.08.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were paid a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Friday, May 29th.

Hedge Funds Weigh In On Brookfield Renewable

Institutional investors have recently made changes to their positions in the stock. Swiss Life Asset Management Ltd boosted its stake in shares of Brookfield Renewable by 1.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company's stock worth $656,000 after acquiring an additional 246 shares during the last quarter. Syon Capital LLC increased its stake in shares of Brookfield Renewable by 2.7% in the 4th quarter. Syon Capital LLC now owns 9,351 shares of the company's stock worth $359,000 after purchasing an additional 247 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Brookfield Renewable by 1.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company's stock worth $721,000 after purchasing an additional 284 shares in the last quarter. Curio Wealth LLC raised its holdings in Brookfield Renewable by 30.4% in the 4th quarter. Curio Wealth LLC now owns 1,244 shares of the company's stock worth $49,000 after purchasing an additional 290 shares during the period. Finally, Diversify Advisory Services LLC raised its holdings in Brookfield Renewable by 0.9% in 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 period. 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.

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