Brookfield Renewable (NYSE:BEPC) Reaches New 52-Week High - Should You Buy?

Key Points

• Brookfield Renewable Corporation's shares hit a new 52-week high at $39.41 during trading, reflecting a notable increase from its previous close of $37.62.
• Analysts have mixed opinions on the stock, with three recommending a Buy, one a Hold, and another a Sell, while JPMorgan has increased its target price to $41.00.
• Brookfield Renewable announced a quarterly dividend of $0.373 per share, yielding 3.8%, despite a large negative dividend payout ratio of -167.42%.

Shares of Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $39.41 and last traded at $39.15, with a volume of 100299 shares. The stock had previously closed at $37.62.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a "sell (d)" rating on shares of Brookfield Renewable in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on Brookfield Renewable from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Finally, Morgan Stanley lifted their target price on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Brookfield Renewable currently has an average rating of "Hold" and an average target price of $35.75.

Brookfield Renewable Stock Up 3.5%

The company has a 50 day simple moving average of $34.41 and a two-hundred day simple moving average of $31.92. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $5.64 billion, a P/E ratio of -43.78 and a beta of 1.21.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were paid a dividend of $0.373 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.8%. Brookfield Renewable's dividend payout ratio is currently -167.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. grew its stake in shares of Brookfield Renewable by 51.8% during the second quarter. Osaic Holdings Inc. now owns 24,653 shares of the company's stock valued at $800,000 after buying an additional 8,413 shares during the last quarter. Parr Mcknight Wealth Management Group LLC grew its stake in shares of Brookfield Renewable by 0.8% during the second quarter. Parr Mcknight Wealth Management Group LLC now owns 47,938 shares of the company's stock valued at $1,571,000 after buying an additional 384 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Brookfield Renewable by 448.1% during the second quarter. Tower Research Capital LLC TRC now owns 6,566 shares of the company's stock valued at $215,000 after buying an additional 5,368 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Brookfield Renewable during the second quarter valued at approximately $218,000. Finally, Snowden Capital Advisors LLC bought a new position in shares of Brookfield Renewable during the second quarter valued at approximately $201,000. Institutional investors own 75.12% of the company's stock.

Brookfield Renewable Company Profile

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.

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