Brookfield Renewable (NYSE:BEPC) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Brookfield Renewable saw unusually high trading volume, with about 1.36 million shares traded, and the stock fell to $32.89 from a prior close of $34.17.
• Recent analyst actions were mixed but generally cautious: one downgrade to sell, another cut in rating, while Barclays raised its price target to $39 and JPMorgan kept a neutral view. Overall, the consensus rating remains Reduce with a $39.67 price target.
• The company recently paid a quarterly dividend of $0.392 per share, or $1.57 annualized, representing a 4.7% yield. Institutional investors remain heavily involved, owning about 75.12% of the stock.

Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 1,358,909 shares changed hands during trading, an increase of 2% from the previous session's volume of 1,334,326 shares.The stock last traded at $32.89 and had previously closed at $34.17.

Analysts Set New Price Targets

BEPC has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Barclays increased their price objective on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Wednesday. 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, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $38.00 target price on shares of Brookfield Renewable in a report on Tuesday. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Brookfield Renewable has an average rating of "Reduce" and a consensus price target of $39.67.

Brookfield Renewable Stock Performance

The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a 50-day moving average of $36.97 and a 200 day moving average of $39.30.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Motiv8 Investments LLC acquired a new stake in shares of Brookfield Renewable in the fourth quarter valued at $25,000. Torren Management LLC acquired a new stake in Brookfield Renewable in the 4th quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Brookfield Renewable in the 4th quarter valued at about $27,000. Allied Private Wealth LLC bought a new position in shares of Brookfield Renewable during the 2nd quarter valued at about $27,000. Finally, SHP Wealth Management bought a new position in shares of Brookfield Renewable during the 4th quarter valued at about $30,000. Institutional investors and hedge funds 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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