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

Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $35.58 and last traded at $35.31, with a volume of 1619319 shares traded. The stock had previously closed at $33.33.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BEPC shares. Barclays began coverage on Brookfield Renewable in a research report on Wednesday, April 2nd. They issued an "equal weight" rating and a $31.00 price objective for the company. Wells Fargo & Company cut their target price on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th.

Brookfield Renewable Price Performance

The firm has a market cap of $5.27 billion, a PE ratio of -40.83 and a beta of 1.16. The firm has a fifty day simple moving average of $31.59 and a two-hundred day simple moving average of $28.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 0.25.

Brookfield Renewable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Renewable's dividend payout ratio (DPR) is -167.42%.

Institutional Investors Weigh In On Brookfield Renewable

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Brookfield Renewable by 2.9% in the 4th quarter. JPMorgan Chase & Co. now owns 588,262 shares of the company's stock worth $16,271,000 after acquiring an additional 16,304 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Brookfield Renewable by 15.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,205 shares of the company's stock worth $863,000 after buying an additional 4,190 shares during the last quarter. Vanguard Group Inc. grew its stake in Brookfield Renewable by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 5,581,621 shares of the company's stock worth $154,464,000 after buying an additional 106,880 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Brookfield Renewable by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,645 shares of the company's stock worth $10,224,000 after buying an additional 3,066 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Brookfield Renewable during the 4th quarter valued at about $510,000. 75.12% of the stock is owned by institutional investors.

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.